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US Debt Ceiling

U.S. Debt Deadline Prompts Emergency Measures

Reuters | Posted 05.06.2015 | Politics

(Adds background) WASHINGTON, March 6 (Reuters) - The Obama administration on Friday said it would start using emergency cash measures...

How to Fix America's Gridlock

Diane M. Francis | Posted 11.18.2014 | Politics
Diane M. Francis

The midterm elections loom but everyone knows what the outcome will be: gridlock, gridlock and more gridlock. That's because the U.S. system is based on a 227-year-old prototype (circa 1787) that badly needs a refresh to match the efficiency and transparency that characterizes other, superior government systems.

Sam Stein

U.S. To Hit Debt Ceiling Even Sooner Than Believed | Sam Stein | Posted 01.23.2014 | Politics

The country's next fiscal crisis will come sooner than advertised. Treasury Secretary Jack Lew on Wednesday sent a letter to House Speaker John Bo...

Republican Extremists Know Exactly What They're Doing

Anis Shivani | Posted 01.23.2014 | Politics
Anis Shivani

The extremist faction is the Republican party (not whatever John Boehner or John McCain are supposed to stand for); the extremist faction is the ruling class's preferred direction for American politics in the near future, as unimaginable as it might seem today.

The Sorry State of Our Union

Robert Kuttner | Posted 04.12.2013 | Politics
Robert Kuttner

The administration is officially committed to the idea that we need another $1.5 trillion in budget cuts over the next decade -- a rate of fiscal contraction half again as large as this year's Sequester, and for 10 full years. The White House shares with the Republican right and the corporate center-right the assumption that we achieve a full economic recovery by targeting a lower debt ratio by 2023, and that we reduce the debt ratio by cutting the deficit. As recent events have shown (in case there was any doubt) this sequence is backwards. The debt ratio comes down when the economy recovers. Fiscal contraction slows the recovery, and the loss of public investment denies the government the very tools it needs to use education and infrastructure to help rebuild the middle class.

Dem Slams GOP 'Chaos'

RealClearPolitics | Posted 01.23.2013 | Politics

"The whole world is watching this hearing, it is the first hearing on this issue. The whole point of a society is to create and run a government to ma...

Obama Lacks Clear Edge Over GOP

AP | ALAN FRAM | Posted 03.12.2013 | Politics

WASHINGTON — President Barack Obama had a clear political edge in his fight with Republicans over the fiscal cliff, and used it to his advantage...

FDR's New Deal Shattered the Austerity Myth

David Woolner | Posted 07.07.2012 | Politics
David Woolner

Much like the 1930s, our slow climb out of the Great Recession has been made all the more difficult thanks to the unwillingness of austerity hawks in Congress to pass the president's jobs bill and other pieces of stimulus legislation.

The Debt Ceiling Crisis: Approaching the Witching Hour

Geoffrey R. Stone | Posted 09.29.2011 | Politics
Geoffrey R. Stone

What is the relevance of section 4 of the 14th Amendment to the current crisis? What it seems to say is that the government must honor all public debt "authorized by law." This suggests that non-payment of our existing debt is not a constitutionally-permissible option for the president.

World Stocks Fall On Concerns That U.S. Will Not Reach Debt Ceiling Deal

Posted 09.28.2011 | Business

LONDON (AP) -- Concerns that American lawmakers won't agree a deal to raise the U.S. debt ceiling in the next few days continued to reverberate around...

50 Percent Chance U.S. Gets Downgraded: S&P

Posted 09.20.2011 | Business

NEW YORK (Emily Flitter and Daniel Bases) - Standard & Poor's reiterated on Thursday it sees a real risk that future U.S. government deficits may ...

CA Prepared To Borrow $5 Billion If Feds Default

AP | JUDY LIN | Posted 09.12.2011 | Los Angeles

SACRAMENTO, Calif. — California's treasurer says the state is preparing to borrow as much as $5 billion in short-term loans if the federal gover...

U.S. Put On Review For Possible Rating Downgrade

Posted 09.12.2011 | Business

Because of the "rising possibility" that Congress will not soon approve a deal to raise the debt limit, Moody's Investors Service has reportedly put t...

The Endgame on the Debt Ceiling

Dean Baker | Posted 08.20.2011 | Business
Dean Baker

While the country will still be left standing even after a debt default, there is one important sector that would not be: Wall Street. This means that President Obama actually holds all the cards.

"A Moral Disaster" Coming Near You, Produced by Wall Street and Washington

Lydia Fisher | Posted 08.09.2011 | Business
Lydia Fisher

Managing to the short-term, managing to self-interest and hoping for a "happily ever after." It's beginning to feel a bit like rearranging the deck chairs on the Titanic.

Nearly Half Of Americans Oppose Raising The Debt Ceiling: Gallup Poll

The Huffington Post | Maxwell Strachan | Posted 07.13.2011 | Business

Despite warnings that America must raise the debt ceiling in order to avoid potentially catastrophic economic consequences, nearly half of Americans j...