BANKING CRISIS

Former FDIC Chair: A 'mistake' to guarantee 100% of deposits at banks
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Issues > U.S. Treasury Department

U.S. Treasury Department

The U.S. government will hit the debt ceiling, or its maximum borrowing limit, soon, and if Congress doesn't act, the government will eventually default on debt.

As debt ceiling looms, Yellen warns of ‘irreparable harm’ to US economy

Watch 1:43
Will the government default on its debt if the ceiling isn't raised? According to James Galbraith, the government legally can't default.

Debt ceiling drama a ‘farce’ since US can’t legally default: economist

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Republicans and Democrats on Capitol Hill have not started debt limit negotiations as a government default looms.

Debt ceiling negotiations have yet to begin in Congress

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Energy Secretary Jennifer Granholm wrote a letter to a House committee warning the effects an oil bill could have on gas prices if passed.

Gas prices rising as energy secretary sends warning about oil bill

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The Committee for a Responsible Federal Budget estimates taking away $72B in IRS funding would actually cost the country $186B in lost revenue.

House Republican vote to strip IRS funding could cost country $114 billion

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22-year-old Mahsa Amini was detained by Iran police for not complying with hijab laws, protests have erupted globally after Amini died following her arrest.

Iran woman dies following arrest for not wearing hijab, feminist protests erupt

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Sen. Mitt Romney, R-Utah, said Thursday that the debt ceiling is an appropriate opportunity to restrain spending, but reiterated that the debt ceiling must be raised.

Romney: Debt ceiling is a chance to rein in spending but must be raised to pay troops

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Most of the drones Russia is using in Ukraine are made in Iran, but most of the components inside those drones are made in America.

Russian drones, made in Iran, contain US-made parts

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Sen. Mark Kelly said he asked about foreign adversaries taking advantage of the bank run via social media, not censoring bank run info.

Sen. Mark Kelly says tweets about him by Reps. Massie, Boebert are false

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The new $7,500 EV tax credit went into effect Jan. 1, but at least one Senate Democrat wants to temporarily yank back the perk.

The $7,500 EV tax credits are being handed out for vehicles that don’t qualify

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Could the nation's debt crisis be solved by a single coin? Every day the U.S. gets closer to default, the calls grow louder for a trillion-dollar solution.

The trillion-dollar coin: A gimmick or a real solution to the debt crisis?

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The Treasury Department said companies blended Iranian oil with Indian products, bringing hundreds of millions of dollars to Hizballah and the IRGC.

Treasury sanctions oil smuggling network members for helping Iran evade sanctions

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The US government has hit the debt ceiling of nearly $31.4 trillion. That's the maximum amount of money it can borrow to pay its bills.

US government hits debt ceiling, prompting action to avoid default

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Sometime between July and September, CBO predicts the U.S. will run out of funds. But the next decade will bring even more trouble for the national debt.

US will add $2 trillion to deficit every year over next decade, CBO reports

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Russian yachts, mansions and private jets can now be sold and the proceeds can be given to Ukraine, thanks to the U.S. omnibus spending bill.

US will be able to sell seized Russian yachts, give money to Ukraine

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The World Bank's David Malpass found himself in the international hot seat after botching his response to allegations he's a climate denier.

World Bank President David Malpass rejects calls to resign over climate flub

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The world's largest active-volcano, Mauna Loa, is erupting in Hawaii, for the first time in nearly forty years.

World’s biggest volcano erupts, Black Friday and Cyber Monday break records

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