The GOP can't raise the debt ceiling or keep the government open without Democratic votes.
Yes, the US public debt is temporarily frozen at the statutory debt limit (with the exception of fiscal shenanigan with public debt held by investors versus intragovernmental lending). The post Household Debt Growth YoY Now Equals Federal Public Debt Growth (Thanks To Debt Ceiling On Feds) was originally published at The Wall Street Examiner. Follow the money!
In addition to worrying about the deadline for raising the debt ceiling, Treasury Secretary Steven Mnuchin has another very important date to remember: his wedding this Saturday to Louise Linton. … Click to Continue »
Mitch McConnell's Republican caucus is suddenly feeling pretty cocky. After crafting healthcare repeal legislation entirely behind closed doors and suffering no consequences for it other than the jabs of a few whiny GOP members who appear poised to vote for it anyway, they now say they're going to take a debt ceiling vote too in July. Show More Summary
Like what you read below? Sign up for HUFFPOST HILL and get a cheeky dose of political news every evening! Senate Republicans want to hold a preemptive vote to raise the debt ceiling, though destroying the global economy sure would be a way to avoid a sophomore slump after taking everyone’s health care away. Show More Summary
Politico: “Senate Republicans are planning for a July vote to raise the debt ceiling, according to senators and aides. Though the Treasury Department has said that Congress can likely wait until September to avoid default, Senate Majority Leader Mitch McConnell [...]
The GOP's cluelessness could cause a global depression.
“The White House lacks a unified plan to increase the government’s borrowing cap as a likely September deadline is drawing near,” the AP reports. Said budget director Mick Mulvaney: “It’s fair to say we haven’t settled on a final way [...]
WASHINGTON (AP) — The White House lacks a unified plan to increase the government's borrowing cap as a likely September deadline is drawing near, said Mick Mulvaney, director of the Office of Management and Budget.
"It's fair to say we haven't settled on a final way to address the debt ceiling any more than the Hill has," Budget Chief Mick Mulvaney said. Continue reading ? The post As deadline nears, White House without a debt ceiling plan appeared first on PBS NewsHour.
The White House lacks a unified plan to increase the government's borrowing cap as a likely September deadline is drawing near, said Mick Mulvaney, director of the Office of Management … Click to Continue »
WASHINGTON (AP) — The White House budget director says the administration lacks a unified plan to increase the government's borrowing cap as a likely September deadline is drawing near.
The latest numbers from the Treasury should have us all troubled. Lee Adler builds analysis on why the black cloud from the debt ceiling storm is about to blow up... The post Debt Ceiling? No Problem – Treasury Keeps on Issuing was originally published at The Wall Street Examiner. Follow the money!
What is the US Treasury to do? They are bound (sort of) by the Statutory Debt Ceiling and a Congress that works together like a mink and chickens. Federal tax receipts have been disappointing and below the Congressional Budget Office’s forecast. Show More Summary
Authored by David Stockman via The Daily Reckoning, While the Imperial City is frozen in the Second Coming of Comey, it doesn’t mean that the Washington spending machine is on pause. In fact, the Treasury’s cash balance yesterday stood...Show More Summary
This former Reagan White House cabinet member warns that President Trump faces a debt ceiling disaster like we've never seen before. Here's why his analysis shows fiscal crisis and what you need to know... The post Coming Soon: The Mother Of All Debt Ceiling Crises was originally published at The Wall Street Examiner. Follow the money!
Treasury Secretary Steven Mnuchin reiterated his preference for the debt ceiling to be raised before lawmakers break for August recess during testimony before the House Appropriations Committee on Monday. Here’s Bloomberg’s summary of...Show More Summary
Treasury Secretary Seth Mnuchin has requested that Congress lift the debt ceiling before it leaves for the August recess and warned the government is at risk of running out of money before September. “We’ve run lots of models and there are lots of different assumptions,” he said....
By sometime later this summer, Congress will have to raise the nation's debt ceiling. Both Congress and the Trump administration are starting to firm up their positions. Failing to raise the ceiling could lead to catastrophic effects...Show More Summary
Last Friday at her weekly press briefing, Nancy Pelosi caught a lot of folks, including us, off-guard when she suggested that she had no intention of supporting a debt ceiling increase. The comments led Bloomberg and others to speculate...Show More Summary