Kevin McCarthy

‘Household payments on mortgages, auto loans, and credit cards would rise, and American businesses would see credit markets deteriorate,’ she said

An inspector general report released last year found ‘administrative, ethical and policy violations’ by Blanton, a Trump-era appointee

Biden made calls for unity and tried to emphasize conciliation over conflict, seemingly impossible to sustain in such divided times

On Tuesday night, the president of the US will stand before a joint session of Congress for the first time since the midterm elections. Look for new faces and fresh political dynamics, coupled with attention to some old problems brought back into painful focus by recent events

‘In our politics and in our lives, we too often see each other as opponents and not competitors,’ the president said

Biden has resisted direct negotiations over raising the nation’s legal debt ceiling, warning against potentially throwing the economy into chaos

The years-long modernization of the project started in 2013 but stalled as Trump battled with Democratic Senate Majority Leader Chuck Schumer over funding

The Republican has faced numerous calls for his resignation and is facing multiple investigations by prosecutors over his personal and campaign finances

The House speaker pledged that cuts to Social Security and Medicare would be off the table

Three weeks into the new Republican majority, the risks of his leadership style are clearly taking hold

The issue is at the core of a dispute about how to raise the government’s legal borrowing authority, a mostly political argument that could turn into genuine financial trouble

‘It is possible for markets to become quite concerned about whether or not the US will pay its bills,’ the treasury secretary said

The broad differences between Biden and Republicans increase the risk that the government could default on its obligations for political reasons

What could be worrisome is not the existence of extraordinary measures, but what happens if they are exhausted this summer without a deal in place

The Treasury Department asks Congress to raise it and expect to begin taking extraordinary measures

The dramatic multi-day election of Speaker McCarthy – who was forced to make major concessions to less than 10% of his Republican caucus – foreshadows how dysfunctional the next session of the US House will be

The leader of the Republican majority secured the necessary votes after three days of being denied the post by extremists within his own party

The hardest-right members of the Republican Party voted down the California congressman’s candidacy for the third day in a row, leaving the legislative branch without a leader. This hasn’t happened since 1859

The candidate once again failed to be elected speaker due to the party hardliners, meaning all legislative activity in the House is on hold

The congressman from California – who is backed by the establishment of the Republican Party – still isn’t able to win over a majority of the House of Representatives. Despite Donald Trump’s tepid endorsement of the candidate, 21 extremist members of Congress still refuse to give him their vote

The politician, the first since 1923 to lose a vote to lead the House of Representatives, had longed for years to be speaker, one of the most important offices in US politics

Embattled Republican leader Kevin McCarthy was denied the speakership of the House of Representatives, with dozens of pro-Trump members of his party voting against him

Despite making last-minute concessions, Kevin McCarthy may be the first speaker candidate in 100 years to fail to be elected in the initial vote

The Republicans, divided after the disappointment of the midterm elections, received the announcement with skepticism while the Democrats activated a campaign to derail the bid

The shadow cast over the campaign by the ex-president, weak party leadership and campaign failures took their toll on conservative aspirations in the US midterms

Abortion was a priority issue in five states, John Fetterman defeated Mehmet Oz for a Senate seat and Florida governor Ron DeSantis secured a resounding victory