What happens if Congress doesn't raise the debt ceiling? What you need to know about the showdown between Democrats and Republicans
CBSN
The debate over the debt limit — often called the debt ceiling — is heating up again on Capitol Hill. But government officials, business leaders and economists are raising the alarms, saying not addressing it in a timely manner would be disastrous.
The limit is the maximum amount the United States is allowed to borrow to pay its debts. If the amount of government debt hits that limit, and doesn't lift the ceiling, the U.S. would be unable to pay what it owes and could default. When Congress raises or suspends the debt limit, it's not greenlighting new spending — instead, it allows the Treasury to pay for spending it already approved.
Married couples across the U.S. have had access to no-fault divorce for more than 50 years, an option many call crucial to supporting domestic abuse victims and key to preventing already crowded family courts from drowning in complicated divorce proceedings.
NEW YORK -- An Osprey being used to ferry White House staff and government officials from an event in New York on Monday was grounded due to a safety concern, with one witness reporting flames under the right engine.
A sonar image suspected of showing the remains of the plane of Amelia Earhart, the famed American aviator who disappeared over the Pacific in 1937, has turned out to be a rock formation.
A pilot and a rescue dog he was transporting to an animal shelter were killed when a small plane crashed in the snowy woods of the Catskill Mountains, though two other dogs were later found to have survived, authorities said.
Walmart, the world's largest retailer, is rolling back its diversity, equity and inclusion policies, joining a growing list of major corporations that have done the same after coming under attack by conservative activists.
The typical American retires far earlier than he or she expects to, and it's often not by choice, according to new research from the Transamerica Center for Retirement Studies.
Rapper Drake's company Frozen Moments filed a petition in a New York court Monday accusing the streaming service Spotify and Universal Music Group of conspiring to inflate the streams of Kendrick Lamar's hit diss track "Not Like Us."
President-elect Donald Trump is threatening to impose sweeping new tariffs on Mexico, Canada and China as soon as he takes office as part of his efforts to crack down on illegal immigration and drugs.
A class of drugs known as GLP-1s have been helping people lose weight, but out of pocket costs put them out of reach for many Americans. In West Virginia, a subsidy program for public employees was showing promising results, but then the state abruptly ended it, leaving many searching for new solutions.
President Biden and first lady Jill Biden will attend President-elect Donald Trump's inauguration on Jan. 20, the White House said Monday.
Starbucks said Monday that a ransomware attack on a third-party software provider is hindering its ability to track baristas' hours and manage their pay.