During the Obama era, GOP resistance to the Affordable Care Act (among other things) ran so hot and fevered that Republicans staged high-stakes hostage negotiations that threatened basic government functions and our ability to maintain our sovereign credit. Show More Summary
In a Wednesday MSNBC interview, Democratic Delaware Senator Chris Coons didn't rule out using the impending debt ceiling as a bargaining chip to force Republicans to investigate the allegations against ousted Trump national security advisor Michael Flynn.
``I look for the financial fireworks to start around March -- April, as the irresolvable debt ceiling debate in congress grinds into a bitter stalemate, and it becomes obvious that there will be no voucher for the great infrastructure spending orgy that Trump's MAGA is based on. Show More Summary
Bonds bid, gold at 3-month highs, debt ceiling anxiety surging... Buy-The-Fucking-Record-Highs, Stupid! CNBC was a little excited today... Per CNBC- "S&P 500 HIGHER FOR THE FIFTH TIME IN FOUR SESSIONS." pic.twitter.com/xSjm5eRS7o — The...Show More Summary
From 2011 to 2013, Americans were up in arms over the debt ceiling. The Treasury was statutorily unable to borrow any more money to pay for things Congress has already bought. Republican brinksmanship over what was normally considered a piece of housekeeping legislation led to US credit being downgraded. Show More Summary
Gold prices fixed at Friday's benchmark auction in London with a gain of 1.4% for the first week of 2017, retreating from yesterday's 1-month highs as the US Dollar rallied following mixed US jobs data.
So far, the defining trait of the incoming Trump administration is its staffing with extremists dedicated to destroying the agencies they are supposed to head. Friday was no exception, as President-elect Trump made the latest addition...Show More Summary
Proposed U.S. budget director opposed raising debt ceiling; Apple contests EU's $14B tax ruling; and weather grounds thousands of U.S. flights. These headlines and more from CBS MoneyWatch.
Every time I think one of Trump's nominees can't be worse, he proves me wrong. But this one has very large real-world consequences for everyone, everywhere. Trump has nominated South Carolina Representative Mick Mulvaney to head up the Office of Management and Budget (OMB). Show More Summary
As the Chargers move toward moving to Los Angeles, a key piece of the financial puzzle has been put in place for them. Via multiple reports, the NFL’s owners have voted at their quarterly meeting in Dallas to increase the team’s debt ceiling to allow it to borrow a large chunk of its $650 million…
Playbook: “Republicans on Capitol Hill are already beginning to fret over how they’ll lift the debt ceiling in the age of Donald Trump. Here’s how top Republicans are thinking of things. In the past, fiscal conservatives have insisted on cutting [...]
"Reagan," Vice President Dick Cheney said in 2002, "proved deficits don't matter." Unless, Cheney felt no need to mention, the occupant of the Oval Office is a Democrat. After all, Ronald Reagan had tripled the national debt in eight short years and George W. Show More Summary
Coming up on Sunday Kos... Facebook fake news concern just mainstream media projecting, by Egberto Willies Normalizing the deplorable, the despicable, the supremacist and the violent, by Frank Vyan Walton Donald and the debt ceilingShow More Summary
AMERICA has a debt ceiling. It’s a statutory limit on how much debt the federal government can issue. For most of its existence (the ceiling will turn 100 next year) Congress has simply voted to raise the limit when borrowing threatens to hit it. In 2011 and 2013, however, Republicans in Congress chose a different approach.
Jeff Greenfield: “In part, it’s because the Republican Party had already embraced behavior that would once have been unthinkable. Of course you can’t really threaten not to raise the debt ceiling; that would risk something close to a global financial [...]
There are many credit facilities that can be tapped to fund infrastructure spending and provide income for savors without breaking debt ceiling barriers.
Five years ago, President Barack Obama signed into law what Todd Harrison, the director of defense budget analysis at the Center for Strategic and International Studies, says will be the biggest challenge for the incoming administration:...Show More Summary
I'm the last person to talk about money... but not because I'm bad with it. Actually, my credit score is over 800; I've never been in debt; and I'm not a crazy spender. I'm the last person to talk about money because, for most of myShow More Summary
One of the riskiest financial market tools, credit-default swaps on US 10-year Treasuries, hit their multi-month highest, suggesting an increased risk of the US piercing its debt ceiling, or a sovereign default, or a dollar devaluation in the coming months amidst the risks of recession, electoral uncertainty, Brexit, and hike in Fed funds rates.