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    US budget

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    • Monday, 25 September, 2023
      US government shutdown
      Moody’s warns federal shutdown would be ‘negative’ for US debt rating

      Report comes as hopes for congressional deal to avert crisis fade

      A sign in the US Capitol tells visitors that the building is closed for all tours
    • Sunday, 24 September, 2023
      US government shutdown
      Lawmakers warn that US is heading for shutdown as budget talks stall

      The economy could take a hit in less than a week if hardline Republic holdouts do not strike a deal

      Kevin McCarthy
    • Saturday, 23 September, 2023
      US government shutdown
      US government heads for shutdown as Republicans squabble over spending

      Millions will be furloughed in a week’s time if no deal is struck with small group of conservative holdouts

      Kevin McCarthy speaks to reporters at the Capitol
    • Tuesday, 29 August, 2023
      Unhedged podcast18 min listen
      The central bankers’ rodeo

      We look at new papers published at the central bankers’ summit in Jackson Hole

    • Tuesday, 1 August, 2023
      Fitch downgrades US on ‘erosion of governance’

      Fair enough!

    • Sunday, 16 July, 2023
      Ruchir Sharma
      The trouble with American exceptionalism

      Deepening deficits now make the US one of the most fiscally irresponsible nations

      Three ironworker twist rebar for a barrier wall during the construction of a new bridge
    • Saturday, 15 July, 2023
      US politics & policy
      New US shutdown risk looms as culture wars hit defence budget

      Republicans add measures against abortion, diversity and transgender rights to spending bill

      US Army soldiers at a training exercise in Macedonia
    • Thursday, 15 June, 2023
      Free LunchMartin Sandbu
      Fiscal policy is about to change beyond recognition Premium content

      We must prepare — institutionally and politically — for the permanently higher state investments new times require

      House speaker Kevin McCarthy, left, with US president Joe Biden, right, in the Oval Office at the White House
    • Thursday, 1 June, 2023
      The FT ViewThe editorial board
      Joe Biden averts a disastrous default

      The sooner America scraps its nonsensical debt ceiling the better

      Kevin McCarthy, the House Speaker, and President Joe Biden meet in the White House
    • Thursday, 1 June, 2023
      News in-depthUS politics & policy
      ‘Faith in the Speaker’: McCarthy defies critics with US debt ceiling win

      Congressman withstood fierce internal resistance from hardline Republicans to lock up bipartisan deal

      Kevin McCarthy
    • Thursday, 1 June, 2023
      US politics & policy
      US House passes debt ceiling bill in crucial step to avert historic default

      Republican Speaker Kevin McCarthy secures bipartisan support to send legislation to the Senate

      Kevin McCarthy walks to the House chamber
    • Wednesday, 31 May, 2023
      US politics & policy
      US debt ceiling deal heads towards first House vote after clearing initial hurdle

      Leaders rush to shore up support after hardline Republicans express misgivings

      Kevin McCarthy
    • Sunday, 28 May, 2023
      US politics & policy
      White House reaches deal with Republicans to avert US debt default

      Biden and McCarthy agree on terms to raise borrowing limit but must still convince sceptical members of their parties

    • Friday, 26 May, 2023
      The Long ViewPhilip Coggan
      Deficits can matter, sometimes

      There is plenty of scope for future governments to get into trouble

    • Friday, 26 May, 2023
      Michael Strain
      Unruly politicians and unchecked spending risk US debt catastrophe

      Without deep structural reforms, the nation could be exposed as a deadbeat place that can’t put its finances in order

    • Friday, 26 May, 2023
      US politics & policy
      US debt ceiling talks progress as deadline approaches

      Negotiators hope to finalise a two-year deal in the coming days as default looms

      Joe Biden
    • Thursday, 25 May, 2023
      News in-depthUS politics & policy
      McCarthy’s big test: keeping Republicans unified in debt ceiling battle

      House Speaker has kept his party behind him so far, but pressure has grown as deadline for a potential default nears

      US House Speaker Kevin McCarthy speaks to reporters
    • Thursday, 25 May, 2023
      US politics & policy
      US credit rating at risk for downgrade amid debt ceiling ‘brinkmanship’

      Republican Speaker tries to reassure investors they have nothing to fear as deadline for potential default approaches

      Kevin McCarthy
    • Sunday, 21 May, 2023
      US politics & policy
      Biden urges Republicans to ditch ‘extreme’ stance as debt talks resume

      President to meet House Speaker McCarthy on Monday as deadline to avoid default approaches

      Kevin McCarthy, the Republican House Speaker
    • Friday, 19 May, 2023
      US politics & policy
      US debt ceiling talks poised to resume after pause

      House Speaker McCarthy says negotiators will be ‘back in the room’ after Republican walkout earlier in the day

      Kevin McCarthy, Speaker of the House
    • Thursday, 18 May, 2023
      Trade SecretsAlan Beattie
      The debt ceiling crisis is distracting Biden from his geopolitical agenda

      Cutting Asia-Pacific trip short to avert domestic catastrophe underlines US president’s foreign policy weaknesses

      Joe Biden’s aim of creating a counterweight strategic trade alliance to China has consistently struggled against his domestic imperatives
    • Thursday, 18 May, 2023
      US politics & policy
      ‘Welfare to work’ rules become sticking point in US debt ceiling fight

      Republicans insist on tougher requirements but progressive Democrats say they will reject any attempt to compromise

      Kevin McCarthy, US House Speaker
    • Wednesday, 17 May, 2023
      US politics & policy
      Biden ‘confident’ of striking deal with Republicans on debt ceiling

      Republicans criticise president for travelling to G7 summit in Japan during negotiations

      Joe Biden
    • Tuesday, 16 May, 2023
      Biden to cut short overseas trip as US debt ceiling talks inch forward

      Kevin McCarthy says a deal is possible by the end of the week but cautions there is still ‘a lot of work to do’

      Joe Biden, right, hosts debt limit talks with Kevin McCarthy, left, and Kamala Harris, centre
    • Tuesday, 16 May, 2023
      Martin Wolf
      America is hurt by its debt ceiling theatre of the absurd

      The only reason a default is conceivable is the depth of disagreement in the country

      James Ferguson illustration of debt bills coming out of the Capitol building roof, which is stuffed so full it starts to lean to one side
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