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Chasm grows between Republicans’ cliff stance and Biden’s budget pitch
White House plan includes trillions of dollars in spending on Democratic policy priorities including healthcare
Annual proposal comes as clash of economic ideologies is increasingly central to next US presidential race
Congressional Budget Office forecast comes amid growing political war of words over lifting borrowing limit
US default could prompt countries to hedge their dollar bets and add other currencies to foreign exchange reserves
Will the end of “extraordinary measures” lead to financial Armageddon or not?
President and House Speaker remain at odds over how to avoid default after first face-to-face meeting
Congress must agree to raise the limit — and then ditch it for a saner measure
Treasury to take ‘extraordinary measures’ to avoid default once $31.4tn borrowing limit is reached
Treasury secretary said milestone could run risk of a damaging debt default starting in early June
Markets are more complacent and Congress more reckless
Legislation including $45bn in Ukraine aid goes to US president Joe Biden for his signature
House will now take up legislation that covers another $45bn in assistance for Ukraine a day after Zelenskyy visit
Union petitions handled by National Labor Relations Board rose 53% in the latest fiscal year
US equities tend to outperform in the six months after polls against the preceding half-year
Neither taxing the top 2 per cent nor cutting spending on low-income households will ease America’s fiscal imbalance
Proposal to raise government borrowing limit by $2.5tn passes both chambers just before deadline
Bill would stave off default and government shutdown that threaten to ‘eviscerate’ economic recovery
Several Republicans threatened to refuse funding in protest against Covid rules for businesses
Clock is ticking for Democrats to pass $1.75tn spending bill, avert a government shutdown and avoid default
President’s legislative victories are being overshadowed by concern over rising prices
Democrats face tough trade-offs as they try to winnow ambitious package to please centrists
Upper house of Congress passes stop-gap measure to stave off threat of a default
Lawmakers are hurrying to prevent an unprecedented crisis. Here’s how they might do it
President warns dollar could lose its status as global reserve currency without deal
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