Filing for bankruptcy can discharge your medical debt, but it can leave a lasting negative impact on your creditworthiness.
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Treasury Secretary Janet Yellen told congressional leaders Monday she will extend extraordinary cash management measures to temporarily finance the U.S. government until Dec. 3, the new deadline for lawmakers to raise or suspend the debt ceiling or risk a first-ever default.
Despite improving conditions and 1.3 million jobs being added to the market by the end of 2021, many Americans will still be out of work, according to a Goldman Sachs analysis.
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The House of Representatives will vote on the Senate-passed temporary debt ceiling increase on Tuesday evening.
Some Republican lawmakers are unhappy with the debt-ceiling deal that Senate Minority Leader Mitch McConnell struck with Democrats to temporarily pull the U.S. government back from the brink of a catastrophic default.
The Senate is set this week to temporarily avert a debt ceiling default, but the fundamental impasse between Republicans and Democrats remains and might rear its head later this year.
Lawmakers in Washington are working to pass a debt limit suspension before government funding runs out, which could happen as soon as Oct. 18, according to Treasury estimates.
President Biden ripped into Senate Republicans on Wednesday for their "dangerous and disgraceful" blockade of a debt ceiling suspension, shortly before Senate Minority Leader Mitch McConnell announced a compromise deal in order to avoid the first-ever default this month.
President Joe Biden told reporters Tuesday that it’s a “real possibility” Democrats could use a “nuclear option” to prevent Republicans from filibustering their plan to raise the debt ceiling.
Sen. Susan Collins suggested this week that some Republican lawmakers could support an effort to raise the debt ceiling if Democrats agreed to abandon President Biden's $3.5 trillion bill.
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Treasury Secretary Janet Yellen said in a Tuesday interview on CNBC that a debt ceiling increase must happen, and refused to take the budget reconciliation process off the table to do it.
Senate Republicans are promising to filibuster any effort to raise the debt limit, but Democrats are refusing to do it on their own.
The Treasury Department has taken extraordinary measures to avoid a financial crisis since the previous debt issuance suspension period expired. But without a new debt limit, the federal budget will hit reach the debt ceiling.
Sen. Mitch McConnell, R-Ky., blocked Senate Majority Leader Chuck Schumer, D-N.Y., in his bid to bypass a GOP filibuster and raise the debt ceiling with a simple majority vote on Tuesday afternoon.
A new report from the NY Fed found that 9.6% of Americans fear they might miss a debt payment in the next few months. Here's how you can get your debt under control.