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.
I know, I know. You think I'm crazy. But hear me out. During the fights about the debt ceiling -- in 2011 and 2013 -- people who wanted to reduce spending noted, correctly, that a simple expiration of a government...
OBAMA LIED, THE DEBT CEILING DIED: Veronique de Rugy reports for National Review. Well, as it turns out, documents subpoenaed by the House Financial Services Committee reveal that during the 2013 debt ceiling debate, ”the Obama Administration is not only capable of prioritizing payments in case the nation’s borrowing authority is not raised, it has […]
Today the House Committee on Financial Services' Subcommittee on Oversight and Investigations held a hearing titled "Federal Spending and the Debt Limit." Among the witnesses was George Mason University Mercatus Center Senior FellowShow More Summary
Dear God… the national debt is now above $19 Trillion and with the debt limit ceiling suspended until March of 2017, it will grow to more than $20 Trillion by