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Kevin McCarthy

What was (and wasn't) accomplished in D.C. this past year

by David Brancaccio , Kimberly Adams and Meredith Garretson
Dec 29, 2023
While the passage of legislation in Congress has largely been stalled by political drama, impacts from the CHIPS Act and infrastructure law are starting to be felt.
Mandel Ngan/AFP via Getty Images
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The economic impact of Kevin McCarthy's ouster as House speaker

by David Brancaccio , Erika Soderstrom and Meredith Garretson
Oct 5, 2023
What developments in the House could mean for a potential government shutdown, funding for Ukraine and more.
With Kevin McCarthy being removed as speaker of the House of Representatives, the chances of a government shutdown in November have increased, according to Ian Bremmer of the Eurasia Group.
Andrew Caballero-Reynolds/AFP via Getty Images
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National Debt

The debt limit deal would reduce government spending by about $1.5 trillion

by Justin Ho
May 31, 2023
Reduced government spending can have an impact on the broader economy. But economists say the effects will likely be limited.
"It does slow the economy, but not in a particularly meaningful way," said economics professor Justin Wolfers of the debit limit deal reached by House Speaker Kevin McCarthy and President Joe Biden.
Drew Angerer/Getty Images
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National Debt

What happens to benefit checks if there's no deal on the debt ceiling?

by Samantha Fields
May 23, 2023
Supplemental Security Income payments and veterans 'payments could be among the first checks to be delayed.
Speaker of the House Kevin McCarthy is scheduled to meet with President Joe Biden to continue debit limit negotiations. Experts agree that a default would cause a massive pause on regular government payments to individuals in need.
Chip Somodevilla/Getty Images
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National Debt

The markets are taking debt limit uncertainty in stride — for now

by Justin Ho
May 9, 2023
Stock markets aren't upset by the debt limit debate. But that could change as the June 1 default deadline draws closer, analysts say.
The stock market doesn't have a lot to react to because little is happening in terms of raising the debt limit, says Ian Dew-Becker, a finance professor at Northwestern University. Above, a trader at the New York Stock Exchange.
Spencer Platt/Getty Images
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Raising the Debt Ceiling

Why is it so hard for Congress to deal with the national debt?

by Kimberly Adams
Apr 20, 2023
Reining in our debt amid the debt ceiling battle would require big — and painful — changes to government spending and taxation.
House Speaker Kevin McCarthy's terms for lifting the debt ceiling would limit discretionary spending, roll back some tax credits, end student loan forgiveness and repeal additional IRS funding, among other things.
Stefani Reynolds/AFP via Getty Images
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What congressional uncertainty means for the economy

by Kai Ryssdal and Kimberly Adams
Oct 8, 2015
The race for speaker comes at a time of budget and debt-limit decisions.
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By The Numbers

The numbers behind the Export-Import bank

by Sabri Ben-Achour
Jun 24, 2014
The Export-Import Bank has been in the news this week. But what exactly is it?
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