Congress will likely need to raise the nation's borrowing limit — or debt ceiling — by sometime this fall, Treasury Secretary Jack Lew told congressional leaders on Wednesday. The government's borrowing cap had been suspended through mid-March. Show More Summary
Back in 2013, Susan Irving, a senior official at the Government Accountability Office, began meeting with executives of prominent New York and Boston investment houses and securities experts to get their take on another festering dispute...Show More Summary
When it comes to raising the debt ceiling, it matters whether lawmakers come close to the cliff.
Fascinating discussion via Real Time Economics: click for ginormous graphic Source: WSJ
There's good news and bad news for the country's finances over the coming year. Revenue has been robust enough that the debt ceiling likely won't be hit in October of this year as most economists predicted. Instead, it could come as late as the beginning of next year, as the presidential primaries really heat up. Show More Summary
Sen. Ted Cruz has flung, and received, countless barbs during his time in Washington. But the Texas Republican said that he was never such a target of “venom” than during a fight over the debt ceiling last year. In an excerpt from his new book "A Time for Truth," obtained by The Washington Post, Cruz […]
PERHAPS Congress should get the blame. There have been so many deadlines over increasing the debt ceiling and shutting down the government, that investors have become inured to forecasts of doom. A deal will be done at the 11th hour (or even the 13th) and the crisis will be averted. Show More Summary
South Carolina Sen. Lindsey Graham is seeking to differentiate himself from his GOP presidential rivals any way he can. On Friday he opens up a new front—challenging his opponents to take a stance on raising the federal debt limit. Bitter internal divisions within the GOP aired in 2011 and 2013, bringing the U.S. to the…
In addition to his usual tired historical revisionism, the Associated Press's Martin Crutsinger, in his report on May's budget deficit of $82 billion, failed to mention that the nation is once again operating at the legal limit of its authorized debt. Show More Summary
WASHINGTON (Reuters) - The Federal Reserve could intervene in financial markets to smooth out volatility sparked by political wrangling over the federal government's debt ceiling, according to a former congressional aide who cited central bank documents. Show More Summary
Federal debt periodically raises its head as a political issue for Americans. In 2011 and 2013, lawmakers tangled over the raising of the Federal government’s debt ceiling; but deficits have not galvanized the American political imagination for some time.
When Republican leadership finally caved on the debt ceiling in 2014, Democrats hoped that President Barack Obama had finally convinced the GOP that the debt ceiling couldn’t be used as an extortion device. But as the federal government inches closer to the debt limit once again, Republicans are g
Cruz chafes at media portraying him as a "lunatic" on the debt ceiling when all he did was threaten economic ruin
Readers glancing away from the debt ceiling showdown may have noticed the hopeful headlines on some other unlikely negotiations in Geneva over the fate of Iran’s nuclear program. Two points are missing from most of the stories about these talks. Show More Summary
Moody's Investors Service has downgraded Ukraine's long-term issuer and government debt ratings to Ca from Caa3, foreign currency debt to Caa3 from Caa2 and the country’s ceiling for long-term domestic currency debt and deposits to Caa2 from Caa1.
Washington's war over the budget and debt ceiling is back, but it's shaping up to have less of an impact on the economy than in recent years. WSJ economics editor Sudeep Reddy explains.
Interest rates will skyrocket, instability will roil the financial markets, the federal deficit will soar and the resulting "catastrophic" harm will last years. That is how Treasury Secretary Jacob J. Lew describes a debt-ceiling breach certain to cause a government default. Show More Summary
On Sunday, March 15, 2015, the U.S. hit the debt ceiling. Treasury Secretary Jacob Lew began employing what he calls extraordinary measures to pay government bills on Monday, March 16, 2015. Secretary Lew has urged Congress to raise the debt limit, again, as soon as possible. Show More Summary
From the GREAT STATE OF MAINE… The Week Ahead Monday Unless Republicans decide to put love of country above petty politics, today is the day America hits the debt ceiling and starts defaulting on its debts. In other words, today is the...Show More Summary
Two US federal agencies have issued warnings that Congress must take action to raise the government's borrowing limit, the debt ceiling, by March 16, or face consequences including default.