At a certain point during the middle of the summer, Republican operatives began worrying that the party was flirting dangerously with self-immolation, though not for the reasons many suspected. Yes, Donald Trump launched a presidential...Show More Summary
Treasury Secretary Jack Lew has a lot on his plate this summer: dealing with the Iran sanctions, the Greek turmoil, the queasy markets, the Puerto Rico debt crisis, the budget, and the impending need to lift the debt ceiling, among other issues. But the former New Yorker still managed to... More »
Your move. The U.S. could reach the debt ceiling limit in mid-November to early December, the CBO says, setting a deadline for a Congress already tied up in knots over whether to shut the government down beginning October 1 over whether Planned Parenthood gets to keep federal money to provide health care to women. Show More Summary
This year the Department of Defense requested $585.3 billion from taxpayers, but it is no secret that Pentagon spending is rife with waste, fraud and abuse. As Congress considers raising the debt ceiling yet again this fall, it’s essential for taxpayers to know that this money will be spent responsibly...
Having repurchased billions of its own stock near the all-time high price (or, to avoid cause-and-effect confusion, leading to all time high prices), Caterpillar recently hit its debt issuance ceiling and as a result is no longer able to sell debt and use the proceeds to buyback stock. Show More Summary
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.