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Debt Limit

Fiscal Affairs: How Long Can We Finance the Debt?

James Kwak | Posted 05.20.2012 | Business
James Kwak

The current privileged status of U.S. dollar debt is a recent phenomenon, and one that is by no means permanent. This is a major reason why it is important to begin reducing structural deficits during the next decade.

How Obama Survived A Brush With Political Disaster

The New Republic | Noam Scheiber | Posted 02.13.2012 | Politics

Shortly after four o'clock on the afternoon of Wednesday, April 13, 2011, U.S. Treasury Secretary Tim Geithner walked down the hallway near his office...

Michael McAuliff

Senate Clears Way For Debt Hike | Michael McAuliff | Posted 03.27.2012 | Politics

WASHINGTON -- The Senate voted Thursday to let the president raise the nation's debt limit by about $1.2 trillion, voting down a measure that would ha...

Michael McAuliff

Debt Limit Hike Fails In Symbolic House Vote | Michael McAuliff | Posted 01.18.2012 | Politics

WASHINGTON -- The Republican-led House of Representatives turned down President Obama's request to raise the debt limit Wednesday in a largely symboli...

Elise Foley

Super Congress Will Meet In Public | Elise Foley | Posted 11.08.2011 | Politics

WASHINGTON -- The so-called Super Congress will attempt to hold the majority of its meetings in public, in full view of the voters and the press, the ...

Paul Blumenthal

Democratic Fundraising Slows In July | Paul Blumenthal | Posted 10.22.2011 | Politics

WASHINGTON -- The Democratic National Committee was not kidding when it hinted last month that fundraising would slow down from the torrid pace set du...

Elise Foley

Super Congress Member Fred Upton: No Cuts To Social Security Benefits | Elise Foley | Posted 10.18.2011 | Politics

WASHINGTON -- Deficit super committee member and Republican Rep. Fred Upton (R-Mich.) said Tuesday he will oppose any Social Security benefit reductio...

Looking for Some Good News

Robert Kuttner | Posted 10.14.2011 | Politics
Robert Kuttner

With so many far-right Republicans having picked up House seats in the 2010 midterm, the election of 2012 could be a good year for a Democratic comeback. Good news, right?

Financial Crisis: For the GOP, It's All So E-Z

Rick Horowitz | Posted 10.11.2011 | Comedy
Rick Horowitz

Republican National Committee (RNC) Chairman Reince Priebus has released the following statement concerning the continuing and dangerous deterioration of the U.S. economy.

Elise Foley

McConnell, Boehner Make 'Super Congress' Appointments | Elise Foley | Posted 10.10.2011 | Politics

WASHINGTON -- Republican leaders of the House and Senate announced their picks Wednesday for the "super Congress" deficit committee slated with findin...

After the Downgrade: Declining Blame, Assigning Blame

Rick Horowitz | Posted 10.09.2011 | Comedy
Rick Horowitz

It happened on his watch! It happened on his watch! For events so consequential, Guilt is wholly presidential, And we're here to say It happened ...

Economc Turmoil Could Spell Trouble for Innovation

Posted 10.09.2011 | Business

While the stock market has plummeted on concerns about the near-term strength of the American economy, the larger issue could be that the long-term pr...

Emily Swanson

Republican Leadership Lost Popularity During Debt Debate: Poll | Emily Swanson | Posted 10.09.2011 | Politics

Members of Congress may be breathing more easily after negotiating an end to the protracted fight to increase the debt ceiling, but a new CNN poll fin...

The Rancid Taste of Tea

Jim Worth | Posted 10.04.2011 | Politics
Jim Worth

The Tea Party held the country hostage -- and won! Despite the posturing on both sides of the aisle over what they each achieved in the budget deal, ...

Obama: It Became Necessary to Destroy the Economy to Save It

Bob Burnett | Posted 10.05.2011 | Politics
Bob Burnett

The bottom line for Liberals: we're on our own. It's naïve to expect help from President Obama. The economy will continue to spiral downward and Liberals will have to figure out how to save it.

Obama Laments Lousy Birthday Gifts

Ben Ritz | Posted 10.04.2011 | Comedy
Ben Ritz

Sources in the White House reported that President Obama was disappointed with the pathetic presents he received from around the nation on his 50th birthday.

Time For A Double Dip?

The Economist | Posted 10.04.2011 | Business

THIS ought to have been a good week for the American economy. The country’s leaders at last ended a ludicrously irresponsible bout of fiscal brinkma...

Who Matters in this Country?

Jennifer Ng’andu | Posted 10.04.2011 | Politics
Jennifer Ng’andu

Knowing the health care struggles for people without insurance, my heart was aflutter with the news of a debt ceiling deal that protected Medicaid. It didn't take long for my glee to turn into a sinking feeling.

Sam Stein

DNC Memo: Political Pundits Got Debt Ceiling Scorecard Wrong | Sam Stein | Posted 10.04.2011 | Politics

WASHINGTON -- The rush to frame the winners and losers in the debt ceiling deal stands in stark contrast to the protracted negotiations over the debt ...

Debt Deal: Sifting Through the Debris

Rick Horowitz | Posted 10.04.2011 | Politics
Rick Horowitz

I'm still trying to dig up the quote. I know it was President Obama, and I know it was at least a few months ago, and I'm pretty sure I can picture ...

Elise Foley

Nancy Pelosi: 'You Won't See A Repetition Of Last Week' With Government Funding | Elise Foley | Posted 10.04.2011 | Politics

WASHINGTON -- House Minority Leader Nancy Pelosi (D-Calif.) is attempting to lay a tougher line against funding cuts, telling reporters on Thursday th...

How Washington Took U.S. To The Brink In Debt Fight

Reuters | Posted 10.03.2011 | Politics

WASHINGTON (Reuters) - The world's largest economy was headed toward an unprecedented default, and all Washington wanted to talk about was the manner ...

Why Has Obama Never Recognized the Tea Party?

David Bromwich | Posted 10.15.2011 | Politics
David Bromwich

Now that President Obama has signed the new debt ceiling into law and subscribed his party to an austerity program that assumes a state of permanent economic emergency, the question what made him do it? becomes more pressing than ever.

S&P Turns Negative For The Year

Posted 10.02.2011 | Business

NEW YORK (Edward Krudy) - The S&P 500 turned negative for the year on Tuesday as the wrangling over the U.S. debt ceiling faded and investors turned t...

Debt Ceiling Agreement: No Cause for Celebration

Bill George | Posted 10.02.2011 | Politics
Bill George

This week's agreement to increase the U.S. debt ceiling is no cause for celebration. The political landscape is covered with the blood of all the politicians who were losers in this "no win" battle.