House progressives are expressing dismay over the debt limit deal hammered out by President Biden and Speaker Kevin McCarthy (R-Calif.), worried that it could set a dangerous precedent for ...

Last week saw a rare triumph of substance over politics in Washington. In testimony before the House Financial Services Committee, Treasury Secretary Janet Yellen spoke in favor of abolishing the debt ...

The U.S. government has a new plan to reduce its $39 trillion debt: Americans can now Venmo money to the Treasury.

If the U.S. defaults on its debt, the government would fail to meet its financial obligations to bondholders. This would trigger widespread economic disruption. While the U.S. has never fully ...