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We Have $272B in Cash. It'll Be Gone Sooner Than We Thought

That the debt ceiling needs to be raised beyond its current level of $20.5 trillion isn't news; that it needs to be done by the first half of March is. The Congressional Budget Office on Wednesday drew the line in the sand there thanks to the new tax law,...
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Wonkbook: Ryan, Obama and Simpson-Bowles would all bust the debt ceiling

Business & Finance : Ezra Klein

There are two important things to know about the debt ceiling. First, because of what we’ve already done, it needs to be raised. Second, no matter what we do next, it needs to be raised. It doesn’t matter which budget plan you’re lo...

Debt Ceiling Deal In Shambles As White House, Republicans Dig In

Business & Finance : Business Insider: Money Game

President Barack Obama yesterday took charge of the negotiations over raising the debt ceiling and reducing the federal budget deficit. Both parties have drawn lines in the sand on deficit reduction, with Democrats demanding tax inc...

CBO: Boehner’s Debt Ceiling Plan Reduces Deficits By $850 Billion

US Politics / Liberal : ThinkProgress: Election

A report released today by the Congressional Budget Office shows that Speaker of the House John Boehner’s (R-OH) plan for raising the debt ceiling would reduce deficits by $850 billion over ten years, less than the $1.2 trillion tha...

CBO says Congress has until mid-October to raise the debt ceiling and avoid an economic disaster

Business & Finance : Business Insider: Clusterstock

Congress will need to raise the nation's debt limit and avoid defaulting on loan payments by "early to mid-October," the Congressional Budget Office said in a report on Thursday. Treasury Secretary Steve Mnuchin has encouraged Congr...

House Dems Say No Debt Ceiling Deal Without Revenues

Business & Finance : Business Insider: Money Game

House Minority Whip Steny Hoyer (D-MD) drew the Democrats' line in the sand at this afternoon's negotiating session on raising the debt limit and lowering the deficit. Facing down Republican leaders demanding steep budget cuts witho...

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