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Congressional Budget Office forecast comes amid growing political war of words over lifting borrowing limit
JPMorgan and Goldman Sachs fear repeat of confrontation that resulted in downgrade of country’s credit rating
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
The party is debating whether to moderate its message or double down after a ‘red wave’ failed to materialise
Biden can push ahead with agenda and judicial appointments even as GOP expected to narrowly win House
Midterm elections set to reshape Joe Biden’s presidency after nearly two years in office
But they will not be decisive for Donald Trump’s chances of a comeback
US president’s comments come as polls move back in GOP’s favour ahead of November’s midterm elections
Rescue workers survey extensive damage after hurricane kills more than 50 in southern states
West Virginia senator concedes defeat following concerns measures could risk government shutdown
‘Devastating’ category 3 storm expected to hit the US mainland over the weekend
Proposal to raise government borrowing limit by $2.5tn passes both chambers just before deadline
Important procedural vote brings lawmakers closer to averting a government default
Bill would stave off default and government shutdown that threaten to ‘eviscerate’ economic recovery
The Republican has bet his political future that the party can escape the former president’s grip
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
GOP Senate campaign has twice the war chest of Democrats as donations return following January 6 boycott
About 90% of social safety net package is ‘agreed to and written’, according to Nancy Pelosi
Upper house of Congress passes stop-gap measure to stave off threat of a default
Progressives say they are willing to lower cost of $3.5tn package of measures that has split party
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