By Rico Kastilani: The market has been on a tear after the debt ceiling resolution and a surprise no Fed taper in September. The Dow Jones Industrial Average made a new all-time high last week at 16,174. Sentiment and optimism is starting...Show More Summary
House Speaker John Boehner went after conservative lobbying groups in no uncertain terms Wednesday morning, declaring that the groups reflexively opposing the just-negotiated budget deal were "using our members and they’re using the American people for their own goals."
Senator Mitch McConnell has been awfully quiet lately. After making it clear in October that he would never again fight Obamacare in the budget or a debt ceiling increase, he has fallen off the face of the earth. Harry Reid pulled the nuclear option in the Senate, yet McConnell has not threatened to hold up the deals on the farm bill or new budget conference. | Read More »
Rewind back to the Summer of 2011. Democrats and Republicans were locked in a fight over raising the debt ceiling and we were inching closer and closer to a default. Speaker Boehner had come up with the Boehner Rule which required dollar-for-dollar spending cuts for every dollar increase in the debt ceiling. Show More Summary
Australia just did something really sensible. From the Sydney Morning Herald: The federal government will be able to borrow as much money as it wants after Federal Treasurer Joe Hockey cut a deal with the Greens to dispense with the debt ceiling completely. Show More Summary
Legally, Obama can’t do this without the approval of Congress, but when has that ever stopped him? The Obama administration was serious enough about manufacturing a high-value platinum coin to avert a congressional fight over the debt...Show More Summary
There is ample discussion about the possible damage that may ensue as a result of the federal government's inability to agree on budgets and debt ceiling increases. So far, the wrangling on Capitol Hill has contributed to some volatility in the capital markets but nothing as dire as the forecasts of some prognosticators. Show More Summary
How hopeful is CNN's Chris Cuomo about ObamaCare? He would still rather defend the law's problems, if he were a Democrat, than pivot to the debt ceiling as a distraction. "The Democrats going on a three-week campaign tour for Obamacare...Show More Summary
Fans of economic policy may recall that during one of the many recent debt ceiling showdowns, the idea to mint a trillion-dollar platinum coin came to the fore. It turns out that the Obama administration took the idea seriously enough...Show More Summary
Remember #MintTheCoin? It was an idea pushed mostly by bloggers to allow the Treasury Department to avoid hitting the debt ceiling without any Congressional action. Treasury would mint a trillion dollar platinum coin, deposit it at the Federal Reserve and use those funds to make future payments. Show More Summary
The ABC has a warning to all those Canberrans who feed the beast that Parliament might be made to death march through the holiday period to put some heat into the Coalitions debt ceiling and carbon tax plans: He [Tony Abbott] raised the prospect of bringing Parliament back on December 16 for an extra week of [...]
In 2013, things in Washington DC got ugly with the government shutdown, debt ceiling battles, and overall partisan brinkmanship. But there was a bright spot in the nation's capital at 1600 Pennsylvania Ave., as Barack and Michelle Obama continued to be a couple you can believe this year. Show More Summary
In this season of folly in which the Republican Party has lurched from the debacles of the government shutdown and the debt ceiling to now anger over the embarrassing failings of the HealthCare.Gov website, President Obama and others have renewed the call for the serious work of comprehensive immigration reform. Show More Summary
With the government shutdown and the federal budget and debt ceiling debacle temporally in the rearview mirror and the holidays fast approaching, it is a good time to take stock of the American consumer and the broader national economy. Show More Summary
Over the last few weeks I have highlighted several changing market concerns. We worried about the government shutdown and the debt ceiling. More recently my emphasis has moved from earnings and seasonal worries, to the possibility of a year-end rally....
WASHINGTON (Reuters) - Business groups waged a fierce lobbying campaign last month to convince Republicans to re-open the government and raise the debt ceiling, but many of the most influential U.S. corporations have not cut off support to lawmakers wh...
Does he have a point or are you even listening? Oprah has raised the debt ceiling on the race card. Even though she’s got enough money to swipe that card ’til it smokes. Funny how the wealth she has mostly
They did it. They actually did it. Thursday night found Senate Majority Leader Harry Reid exercising what the people who specialize in making everything in Washington into ominous metaphors (see: Fiscal Cliff, Debt Ceiling, Giant Platinum Coin) like to call “the Nuclear Option” — changing the rules of the Senate so that judicial and executive […]
By EconMatters It was just last month that U.S. lawmakers brokered a deal suspending the debt ceiling through February 7 to end the government shutdown, and the Treasury Department could continue borrowing. After February 7, Treasury will still be able to use the "extraordinary measures" to stave off default. Show More Summary