Politics
U.S. Could Run Out of Cash by July, Analysis Finds
The United States could run out of cash to continue paying its bills by mid-July if Congress does not take action to raise or suspend the nation’s debt limit, according to an analysis on Monday by the Bipartisan Policy Center.
That deadline, known as the “X-date” — the moment when the United States is unable to meet its financial obligations and might default on its debt — is a fiscal milestone that’s among the most closely watched in Washington and on Wall Street.
The date is subject to considerable uncertainty. It relies on estimates of how much wiggle room the Treasury has to use accounting maneuvers — known as “extraordinary measures” — to keep paying the government’s bills by shifting money around. The Bipartisan Policy Center, a think tank, provided estimates suggesting that the X-date could come as late as the beginning of October.
Efforts to address the debt limit will likely consume Congress and the Trump administration later this year as Republicans race to enact trillions of dollars of tax cuts.
The debt limit is a cap on the total amount of money that the United States is authorized to borrow to fund the government and meet its financial obligations.
Because the federal government runs budget deficits — meaning it spends more than it brings in through taxes and other revenue — it must borrow huge sums of money to pay its bills. Those obligations include funding for social safety net programs, salaries for members of the armed forces and paying investors who have bought U.S. government debt in exchange for interest payments.
After a protracted fight, lawmakers agreed in June 2023 to suspend the $31.4 trillion debt limit until Jan. 1, 2025.
The national debt is now approaching $37 trillion. Republicans have been cutting federal jobs at government agencies and expressed a commitment to curbing wasteful spending, but lawmakers have showed little appetite for cutting social safety net programs, which are the biggest drivers of the growing debt.
“Policymakers must commit to responsible budgeting, which starts with avoiding debt limit brinkmanship and its impacts on our economy,” Margaret Spellings, the president of the Bipartisan Policy Center, said in a statement.
The analysis said that spending on disaster relief, the pace of tax 2024 collections and additional government revenue from Mr. Trump’s tariffs could affect the timing of the X-date. Savings from cuts recommended by the new Department of Government Efficiency could also extend the deadline.
Janet L. Yellen, the Treasury secretary under President Joseph R. Biden Jr., told Congress in mid-January that the Treasury Department would need to start using “extraordinary measures” on Jan. 21 to allow the United States to keep meeting its financial obligations.
Those measures are essentially accounting maneuvers that can prevent the government from breaching the debt limit. They can include suspending certain types of investments in savings plans for government workers.
President Trump said last year, before taking office, that he thought the debt limit was a “trap” set by Democrats and urged lawmakers to lift the borrowing cap or abolish it entirely.
Treasury Secretary Scott Bessent expressed skepticism about abolishing the debt limit during his confirmation hearing in January. He said, however, that he would study the idea and potentially work with Democrats, many of whom have long said that the debt limit creates unnecessary risks, on changes to the cap. Mr. Bessent told Bloomberg News last month that he was discussing the matter with large holders of U.S. debt.
In a letter to Congress this month, Mr. Bessent said that he was continuing to deploy the measures set in motion by Ms. Yellen. Those included pausing some investments in the Civil Service and Retirement Disability Fund and the Postal Service Retiree Health Benefits Fund.
The Treasury secretary said that he expected to provide an update in May on how long its cash would last and pointed to “unavoidable uncertainty” surrounding such forecasts.
“I respectfully urge Congress to act promptly to protect the full faith and credit of the United States,” Mr. Bessent wrote.
House Republicans unveiled a budget outline last month that would raise the debt limit by $4 trillion and approve more than $4 trillion in tax cuts.
It is not clear how many Senate Republicans would support such a measure to lift the borrowing cap or if they would require the backing of some Democrats.
Politics
Video: Senate Moves Closer to Ending Shutdown
new video loaded: Senate Moves Closer to Ending Shutdown
transcript
transcript
Senate Moves Closer to Ending Shutdown
Eight senators broke from the Democratic caucus and agreed to a deal giving Republicans the 60 votes they needed to end the government shutdown. The measure still needs to be voted on in both chambers of Congress.
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“The yeas are 60 and the nays are 40.” “From the truly precarious situation we are in with regard to air travel, to the fact that our staffs have been working without pay for a full 40 days now, all of us, Republicans and Democrats, who support this bill know that the time to act is now.” “I must vote no. This healthcare crisis is so severe, so urgent, so devastating for families back home that I cannot, in good faith, support this C.R. [continuing resolution].”
By Shawn Paik
November 10, 2025
Politics
Democratic lawmakers reel after Senate votes to reopen government: ‘Republican-made health care crisis’
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The Senate struck a late-Sunday deal to begin the path to reopening the government after eight Democrats joined Republicans to reach 60 votes, sparking backlash from those who opposed the spending bill.
Democratic leaders voiced intense opposition, arguing that the continuing resolution fails to address the nation’s worsening health care challenges. Several prominent lawmakers spoke out immediately following the vote, framing it as a test of priorities and moral leadership.
Rep. Ro Khanna, R-Calif., said Senate Majority Leader Chuck Schumer, D–N.Y., “is no longer effective and should be replaced.”
“If you can’t lead the fight to stop healthcare premiums from skyrocketing for Americans, what will you fight for?” Khanna asked.
Schumer voted no on the procedural vote.
“America is in the midst of a Republican-made health care crisis — a crisis so severe, so urgent, and so devastating for American families that I cannot support a continuing resolution that fails to address it,” Schumer said.
SENATE DEMOCRATS CAVE, OPEN PATH TO REOPENING GOVERNMENT
Senate Minority Leader Chuck Schumer speaks during a press conference with members of the Senate Democratic Caucus in Washington, D.C., on Oct. 28. (Nathan Posner/Anadolu via Getty Images)
Schumer said that Democrats have continually pushed for meaningful reforms to the health care system.
“For months and months, Democrats have been fighting to get the Senate to address the health care crisis,” he said. “This bill does nothing to ensure that the crisis is addressed. I am voting no, and I will keep fighting for months and months.”
Sen. Bernie Sanders, I–Vt., delivered a forceful rebuke, criticizing both Republicans and the eight Democrats who joined them in supporting the resolution.
“Tonight, eight Democrats voted with the Republicans to allow them to go forward on this continuing resolution. And to my mind, this was a very, very bad vote,” Sanders said. “What it does, first of all, is it raises healthcare premiums for over 20 million Americans by doubling, and in some cases tripling or quadrupling. People can’t afford that when we are already paying the highest prices in the world for healthcare.”
SANDERS CALLS OUT 8 SENATE DEMOCRATS FOR ‘VERY, VERY BAD VOTE’ ON GOVERNMENT FUNDING MEASURE
Sen. Bernie Sanders speaks at the No Kings Rally in Washington, D.C., on Oct. 18, 2025. (Fox News Digital/Emma Woodhead)
He went on to warn of the broader consequences of the legislation.
“It paves the way for 15 million people to be thrown off of Medicaid. While care act studies show that will mean some 50,000 Americans will die every year unnecessarily. And all of that was done to give a trillion dollars in tax breaks to the 1%.”
Sanders links the vote to broader political trends and said it ignores the message voters have sent in recent elections.
Speaker of the House Mike Johnson is joined by Majority Leader Steve Scalise, Whip Tom Emmer, and Brian Steil for a press conference on the tenth day of a government shutdown on Oct. 10, 2025 in Washington, D.C. (Anna Rose Layden/Getty Images)
“As everybody knows, just on Tuesday, we had an election all over this country, and what the election showed is that the American people wanted us to stand up to Trumpism — to his war against working-class people, to his authoritarianism,” Sanders said. “That is what the American people wanted. But tonight, that is not what happened.”
Despite his disappointment, Sanders vowed to continue pushing for expanded access to health care.
SCHUMER’S SHUTDOWN SCHEME EXPLAINED: DEMS DOUBLE DOWN ON OBAMACARE CREDITS AS STANDOFF DRAGS ON
Rep. Adam Schiff, D-Calif., also spoke out following the vote, sharing a video message on X alongside a seething assessment of the funding bill’s failure to address healthcare costs.
“Millions of Californians are at risk of losing their insurance or facing dramatically higher health care costs. Tonight’s vote does NOTHING to address this Republican health care crisis,” Schiff said.
In the video, Schiff recounts his “no” vote, calling the moment symbolic of the bleak outlook for health care reform under the current bill.
“So, I just voted no on the Republican funding bill. I am outside the Capitol. It’s dark and raining, and that seems all too appropriate for this moment because that funding bill has nothing in it to help people afford their health insurance. That bill has nothing in it that’s going to bring costs down. That bill has nothing in it that’s going to make sure that people with pre-existing conditions can afford their health insurance,” Schiff said, in part.
He continued: “We owe our constituents better than this. We owe a resolution that makes it possible for them to afford their health care. [The] system [is] already badly broken enough. This just prevented it from getting worse.”
Schiff also joined Schumer in describing the shutdown and the vote on Sunday as a “Republican health care crisis.”
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Sen. Chris Murphy, D-Conn., posted a late-night video from his office, expressing deep frustration over the outcome and warning that the vote could embolden President Donald Trump.
His caption read: “I got back to my office after the vote tonight and recorded this. There’s no way to sugarcoat what happened tonight. And my fear is that Trump gets stronger, not weaker, because of this acquiescence. I’m angry — like you. But I choose to keep fighting.”
Murphy also reflected on the vote’s implications for both democracy and health care, saying Democrats must continue to stand firm despite the political cost.
“The American people do not want Democrats to be bullied into submission. They want Democrats to fight for their healthcare. They want Democrats to fight Trump’s illegality,” the senator said, in part.
“I didn’t want this shutdown. I want it to end — but not at any cost. This shutdown hurt, it did — but unfortunately, I don’t think there is a way to save this country, to save our democracy, without there being some difficult, hard moments along the way.
…I’m angry about it. And I’m just gonna get up tomorrow and go to work to try to convince all of my colleagues that this is a unique moment — and the necessity to stand and fight, even when it’s hard, even when it involves pain, is necessary.”
Politics
BBC leaders resign after the broadcaster’s editing of a Trump speech is called misleading
BBC Director-General Tim Davie and BBC News Chief Executive Deborah Turness announced Sunday they are resigning from their positions.
The departures come as the British public broadcaster has faced criticism for its editing of President Trump’s Jan. 6, 2021, speech before the Capitol riot and insurrection.
The BBC investigative series “Panorama,” in a broadcast a week ahead of the U.S. presidential election last year, featured an edited video of Trump’s speech.
Critics said that the way the speech was edited was misleading in that it cut out a section in which Trump said that he expected his supporters would demonstrate peacefully.
“I know that everyone here will soon be marching over to the Capitol building to peacefully and patriotically make your voices heard,” Trump said in the speech, during which he also urged his supporters to “fight like hell.”
In a statement, Turness acknowledged the controversy around the “Panorama” broadcast, noting, “In public life leaders need to be fully accountable, and that is why I am stepping down. While mistakes have been made, I want to be absolutely clear recent allegations that BBC News is institutionally biased are wrong.”
In a separate news release, Davie said, “In these increasingly polarized times, the BBC is of unique value and speaks to the very best of us. It helps make the UK a special place; overwhelmingly kind, tolerant and curious. Like all public organizations, the BBC is not perfect, and we must always be open, transparent and accountable.
“While not being the only reason, the current debate around BBC News has understandably contributed to my decision. Overall the BBC is delivering well, but there have been some mistakes made and as Director-General I have to take ultimate responsibility.”
Trump posted a link to a Daily Telegraph story about the speech-editing on his Truth Social network, thanking the newspaper “for exposing these Corrupt ‘Journalists.’ These are very dishonest people who tried to step on the scales of a Presidential Election.” He called that “a terrible thing for Democracy!”
White House Press Secretary Karoline Leavitt reacted on X, posting a screen grab of an article headlined “Trump goes to war with ‘fake news’ BBC” beside another about Davie’s resignation, with the words “shot” and “chaser.”
Trump was impeached and criminally indicted over his role in the Jan. 6, 2021, riot and insurrection. The felony charges were dropped after he won the 2024 election, as U.S. Justice Department policy holds that a sitting president may not be criminally prosecuted.
Pressure on the broadcaster’s top executives has been growing since the Daily Telegraph newspaper published parts of a dossier complied by Michael Prescott, who had been hired to advise the BBC on standards and guidelines.
As well as the Trump edit, it criticized the BBC’s coverage of transgender issues and raised concerns of anti-Israel bias in the BBC’s Arabic service.
The 103-year-old BBC faces greater scrutiny than other broadcasters — and criticism from its commercial rivals — because of its status as a national institution funded through an annual license fee of $230 paid by all households with a television.
The BBC airs vast reams of entertainment and sports programming across multiple television and radio stations and online platforms — but it’s the BBC’s news output that is most often under scrutiny.
The broadcaster is bound by the terms of its charter to be impartial in its output, and critics are quick to point out when they think it has failed. It’s frequently a political football, with conservatives seeing a leftist slant in its news output and some liberals accusing it of having a conservative bias.
It has also been criticized from all angles over its coverage of the Israel-Hamas war in Gaza. In February, the BBC removed a documentary about Gaza from its streaming service after it emerged that the child narrator was the son of an official in the Hamas-led government.
The BBC shakeup comes as Trump has been extremely aggressive in pursuing lawsuits against U.S. media companies. Paramount Global forked over $16 million this summer after Trump complained about the editing of a Kamala Harris interview on CBS’ “60 minutes.” Last year, ABC News paid $16 million to settle Trump’s defamation lawsuit against anchor George Stephanopoulos.
The Associated Press contributed to this report.
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