Spending

The U.S. government bumped up against its debt limit Thursday, prompting the Treasury Department to take “extraordinary” accounting steps to avoid default — as friction between President Joe Biden and House Republicans raised concern about whether the U.S. can sidestep an economic crisis.

Microsoft announced on Wednesday it will eliminate 10,000 jobs worldwide, almost 5% of its workforce, and take a $1.2-billion charge as global growth is slowing down.

These days, world leaders are meeting in Davos.

If the reaction from Arizona Gov. Katie Hobbs’ first budget proposal is any indication, she and lawmakers are likely in for a long spring.

On Friday, Treasury Secretary Janet Yellen wrote a letter to congressional leaders warning that the U.S. would hit its debt limit on January 19 and encouraged Congress to "act promptly to protect the full faith and credit of the United States," CNBC reported.

Repealing IRS funding in the Inflation Reduction Act saved $70 billion.

Big banks in the United States are getting ready to deal with shrinking profits due to factors like an overall difficult economic environment, despite the fact that interest incomes have risen over the past year.

"Our system is built on checks and balances. It's time for us to be a check and provide some balance to the president's policies," McCarthy said.

DeSantis orders Florida universities to provide information on funding for curricula such as Critical Race Theory and diversity training.

Since Ronna McDaniel became the leader of the Republican National Committee, the party has suffered a series of significant losses, including losing the House majority in 2018 and the Senate, House, and White House in 2020.