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.
Nicole Kaeding The federal government’s debt ceiling will return on Monday following a 14 month suspension. This is the first of many important fiscal deadlines that Congress must consider before the end of the calendar year. These deadlines...Show More Summary
With the federal government due to hit its debt ceiling on Monday, the Treasury Department again will use financial maneuvers to stave off a default, including several involving federal retirement funds. A letter to Congress Friday from Treasury Secretary Jack Lew notes that the government will be at its debt limit when the suspension, enacted […]
And so, a little over a year after the last debt ceiling hike melodrama, in allowed the US kicked the can on its maximum borrowing capacity was extended until, well, know, and in the meantime total US public debt rose to $18.149 trillion...... Show More Summary
The upstart band of House conservatives that has challenged Republican leaders has hired an executive director, bolstering the group’s organization ahead of budget and debt ceiling negotiations expected to divide GOP lawmakers.
US Democratic Senators claim that raising the amount of money the US government can borrow is only one of many funding crises that the US Congress will have to resolve in the immediate weeks and months ahead.
In 2011, McConnell loved the idea of holding the debt ceiling hostage. In 2015, he's adopted a very different posture.
Before the upcoming debt ceiling battle in the fall, Republicans have some more immediate budget concerns on the way. Ashley Parker has the details: In April, physicians who treat Medicare patients face a drastic cut in pay. In May, the Highway Trust Fund runs dry. Show More Summary
Having just gotten through the last round of brinksmanship over Department of Homeland Security funding, Congress immediately faces the next round: the debt ceiling, which has been the cause of at least one congressional catastrophe in the last four years and threatened two more.
Next week should be fun. U.S. Treasury Secretary Jacob Lew says that unless Congress increases the federal debt ceiling, the country will hit its borrowing limit on Monday, March 16. That deadline day is this week's By the Numbers figure. Show More Summary