From This Collection

Debt ceiling deadline is extended to June 5, later than previously estimated, Yellen says

May 26, 2023
Treasury Secretary Janet Yellen said Friday the projected debt ceiling deadline is extended to June 5, four days later than previously estimated.
Treasury Secretary Janet Yellen Yellen said in letter to Congress that inaction on raising the U.S. debt limit would “cause severe hardship.”
Alex Wong/Getty Images

Where does the US credit rating come from?

May 25, 2023
Atsi Sheth from Moody's gives us a behind the scenes look into the company's ratings process.
"In the most basic terms, a credit rating is really an opinion on the credit quality of any entity that borrows on the debt capital markets," said Atsi Sheth at Moody's Investors Service.
Emmanuel Dunand/AFP/Getty Images

When will the U.S. run out of money? It’s tough to say.

May 25, 2023
Predicting the exact timing of a government default is difficult, given the amount of the variability in government spending and revenue.
Even Treasury Secretary Janet Yellen admitted it’s hard to be exactly sure when a default could happen.
Alex Wong/Getty Images

Work requirements for SNAP over 50 included in debt ceiling talks

May 23, 2023
Some Congressional Republicans want older Americans to prove that they work or are looking for work to get those benefits.
A sign alerting customers about SNAP food stamps benefits is displayed at a Brooklyn grocery store in New York City.
Photo by Scott Heins/Getty Images

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What happens to benefit checks if there's no deal on the debt ceiling?

May 23, 2023
Supplemental Security Income payments and veterans 'payments could be among the first checks to be delayed.
Speaker of the House Kevin McCarthy is scheduled to meet with President Joe Biden to continue debit limit negotiations. Experts agree that a default would cause a massive pause on regular government payments to individuals in need.
Chip Somodevilla/Getty Images

The messy money reality at the center of the debt ceiling fight

Raising the federal government’s borrowing limit isn’t about spending. It’s about how money works.
Unless the White House and Congressional leaders can make a deal to lift or suspend the debt limit, the U.S. could default on its debts as soon as June 1.
Anna Moneymaker/Getty Images