Just days before the United States was set to default on its debt for the first time, the US Congress approved a deal to lift the nation's borrowing limit. The bill, which is well on its way to becoming law, will spare the US from a catastrophic default on its $31.

US narrowly avoids its first-ever default as Congress approves debt-ceiling suspension

With the US debt default deadline precariously close, President Joe Biden said his administration was close to achieving a breakthrough. For the first time in many weeks, Biden seemed upbeat about the prospect of getting the deal done and raising the debt ceiling.

'It's very close...': Biden sounds optimistic on breakthrough in debt ceiling talks

The USA is edging closer to defaulting on its debt. Unless the debt ceiling is raised by June 5, the country will fall into an economic crisis that may have a far-reaching impact with global spillovers expected, affecting the likes of India, an emerging economy.

US is nearing its debt default deadline. What is its impact on Indian economy?

United States President Joe Biden struck a deal ‘in principle’ with Republican lawmakers to increase the debt ceiling of the country on Saturday, in a first crucial step towards averting the disastrous default with a few days to spare.

US: Biden, Republicans reach ‘in principle’ deal to avert catastrophic debt default

The White House said on Tuesday (May 23) that it is not considering any constitutional solution to the current debt impasse as currently, President Joe Biden is not planning to invoke the 14th Amendment to prevent a US debt default.

White House: Biden not planning to invoke 14th Amendment to prevent debt default

As a massive debt crisis in the United States looms, US House Speaker Kevin McCarthy said on Monday (May 22) that talks with President Joe Biden to counter the threat were productive, but there was no agreement on how to raise the government's $31.

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