NEWS

Fri, Dec 11

House leader says government needs to borrow at least $1.8 trillion more

House Majority Leader Steny H. Hoyer (D-Md.) said Friday that the government needs to borrow at least $1.8 trillion more next year to avoid defaulting on its debts.

Such an increase in the nation's debt ceiling is much larger than Democrats had contemplated earlier this year. Hoyer's comment came as senior White House officials and House and Senate leaders planned to resume negotiations over the debt limit, with the three camps at odds over how to chart a course toward fiscal solvency. Read more.

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