National debt Coverage

5 steps to a debt-free life

Americans' credit card debt reached $1.02 trillion in the second quarter (Q2) of 2023, according to Experian data. That marks the first time credit card balances have ever surpassed the $1 trillion mark.

Evelyn Waugh, Stacker

Fact check: Did Donald Trump rack up more debt than any other president?

In a May 12 tweet, House Minority Leader Hakeem Jeffries, D-N.Y., wrote: "Trump ran up more debt than any other President in American history."

Louis Jacobson, PolitiFact reporter

GOP Revolts Over Debt Limit Deal as Bill Moves Toward a House Vote

WASHINGTON — A bipartisan deal to suspend the federal debt ceiling advanced on Tuesday night toward a climactic House vote despite a rebellion by hard-right Republicans who said the party was squandering a chance to force fundamental changes in government spending.

Carl Hulse and Catie Edmondson, New York Times

What's next for the debt limit deal

The race to get the bi-partisan agreement to raise the debt ceiling across the finish line is in high gear. Both President Biden and House Speaker Kevin McCarthy are trying to secure support within their respective parties.

Congress to vote Wednesday on deal to extend debt limit

With the deadline to avoid default approaching President Biden is now saying the debt ceiling deal with House Speaker Kevin McCarthy is ready to move to Congress.

DRAUGHON DRAWS: Raising the debt ceiling roof

Friday, May 26, 2023 -- Capitol Broadcasting Company's editorial cartoonist.

What the US debt ceiling debate in Washington, DC means for you

There is a lot of uncertainty about exactly what would happen if the U.S. defaults on its debt despite several debt limit crises in the past, like in 2011.

Biden says he's confident leaders will reach an agreement on debt limit

(CNN) -- President Joe Biden on Wednesday sought to lay out how he'll continue to negotiate with congressional leaders on the budget to raise the debt ceiling - underscoring that all parties agreed that the United States would not default.

By Maegan Vazquez, Donald Judd and Nikki Carvajal, CNN

President Biden hosts meeting to try to strike deal to raise the Treasury's debt ceiling

President Joe Biden wants to increase the government's $31.4 trillion legal borrowing limit, so that the federal government can continue to pay its bills and the risk of a historic default goes away. House Speaker Kevin McCarthy and other GOP lawmakers want a deal that guarantees trillions of dollars in spending cuts before they sign on to raising the debt limit.

US House Republicans push for debt limit vote

All eyes are on Speaker of the House Kevin McCarthy to see if he can get his debt limit bill across the finish line with only his party's support.

Fact check: Will interest on the federal debt soon cost more than national defense?

During a March 30 interview on CNN, former Vice President Mike Pence said: "In the next two years, we'll spend more on interest on our national debt than we do on the national defense."

Louis Jacobson, PolitiFact reporter

Fact check: Has the U.S. ever defaulted on its debt?

During a Jan. 8 interview on NBC's "Meet the Press," the House Democrats' new leader, Rep. Hakeem Jeffries of New York, said a debt default would be unprecedented. PolitiFact checks his claim.

Louis Jacobson, PolitiFact reporter

Fact check: AOC says Trump tax cuts were 'largest contributor' to national debt

In a brief walk-and-talk interview with reporters outside the U.S. Capitol, Rep. Alexandria Ocasio-Cortez, D-N.Y., focused on the impact of tax cuts signed in 2017 by then-President Donald Trump as the primary reason the federal debt is close to hitting the statutory limit of $31.4 trillion.

Louis Jacobson, PolitiFact reporter

Fact check: Biden compares his national debt record to Trump's

Amid public concerns about high inflation rates, President Joe Biden sought to reassure Americans that his administration had a handle on the economy by saying the federal government was poised to pay down a portion of the $23.8 trillion federal debt for the first time in several years. PolitiFact checks his claim.

Louis Jacobson, PolitiFact reporter

US avoids default as Congress raises debt ceiling

Congress averted a catastrophic debt default early Wednesday morning after Democratic majorities in both chambers voted to send a $2.5 trillion increase in the nation's borrowing authority to President Joe Biden over lockstep Republican opposition.

Fact check: Biden says raising the debt ceiling 'has nothing to do with new spending'

On Oct. 6, President Biden said, "Raising the debt limit is paying our old debts. It has nothing to do with new spending or what may be coming this year or other years. It has nothing to do with my plans on infrastructure or Building Back Better." PolitiFact checks his claim.

Louis Jacobson, PolitiFact reporter

Fact check: Biden says raising debt ceiling is 'usually' bipartisan

Facing the prospect of the federal government running out of money to pay its bills in weeks, President Joe Biden said Senate Republicans are "reckless" and "hypocritical" by refusing to join Democrats in voting to raise the debt limit. PolitiFact checks his claim.

Amy Sherman, PolitiFact reporter

Fact check: Senate Republican blames Democrats for U.S. debt

The U.S. is again facing a reckoning on the size of the national debt, which is approaching its legal limit. Without an increase in the debt ceiling, the country will not be able to borrow money to cover its bills. U.S. Sen. Rick Scott (R-Fla) blamed Democrats for the problem.

Jon Greenberg, PolitiFact reporter

U.S. Could Run Out of Cash to Pay Bills as Early as Oct. 15

The U.S. government could run out of cash and start missing payments on things as diverse as Social Security and military pay sometime between Oct. 15 and Nov. 4, according to a new analysis from the Bipartisan Policy Center.

Alan Rappeport, New York Times

Fact check: Haley targets Biden saying national debt 'now bigger than our economy'

In a Facebook post, former South Carolina Gov. Nikki Haley wrote "The national debt is now bigger than our economy. That hasn't happened since World War Two -- and we're in peacetime. Joe Biden is digging a hole America can never fill. But he doesn't care. When the bill comes due, he'll be long gone."

Jason Asenso and Louis Jacobson, PolitiFact reporters

Fact check: Trump falsely says national debt declining before the pandemic

As he pitched his economic agenda to a group of business leaders, President Donald Trump claimed that the United States was about to pay off federal debt, but then the coronavirus pandemic hit and derailed those plans.

Miriam Valverde, PolitiFact reporter

Thousands sign petition to sell Montana to Canada

To help curb the United States' national debt, thousands have signed a petition calling for Montana to be sold to Canada for $1 trillion.