Scott Horsley
Stories
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Politics
5 things people get wrong about the debt ceiling saga
Did spending by President Biden and the Democrats rack up the country's debt? Is a default the same as a government shutdown? Here are answers to things people often get wrong about the debt ceiling.
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Politics
Fact check: Debt ceiling myths and misconceptions
If you're confused about the debt ceiling battle being waged in Washington right now, you're not alone. There are a lot of misconceptions about what's behind the drama and what's at stake. We'll separate fact from fiction.
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Business
Treasury Department prepares for the worst — if the debt ceiling isn't raised
The Treasury Department is not set up to pay some of its bills and not others. But it may be forced into that situation, if Congress doesn't raise the debt ceiling soon.
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Politics
These are some of the people who'll be impacted if the U.S. defaults on its debts
Unless Congress acts to raise the federal debt limit, the U.S. government could run short of cash to pay its bills as early as June 1. Seniors, veterans, government workers and others would suffer.
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Politics
How not lifting the debt ceiling could affect people, from veterans to homebuyers
Unless Congress and the White House reach a deal to raise the debt ceiling, real people could suffer, from service members to Social Security recipients to would-be homebuyers.
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Politics
The IRS is building its own online tax filing system. Tax-prep companies aren't happy
The IRS is working to develop its own free electronic tax-filing system in a potential challenge to commercial products such as TurboTax. The agency plans a pilot test of the program next year.
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National
Used car prices contributed to the rise of the cost of living index in April
Annual inflation fell to 4.9% in April — the lowest it's been in two years — but prices are still climbing. A spike in used car prices contributed to last month's jump in the cost-of-living index.
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Business
Inflation stayed high last month, compounding the challenges facing the U.S. economy
Consumer prices in April were 4.9% higher than a year ago, according to the Labor Department. Prices rose 0.4% between March and April.
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Business
In a surprise, the job market grew strongly in April despite high interest rates
The U.S. job market may be getting a second wind. Employers added 253,000 jobs in April, a modest uptick from the month before. The unemployment rate dipped to 3.4%.
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Business
The Fed raises interest rates again in what could be its final attack on inflation
The Federal Reserve raised interest rates by a quarter percentage point Wednesday in an effort to curb persistent inflation. It was the tenth rate hike in 14 months, and possibly the last for a while.