Debt Ceiling
Frequently Asked Questions on the Debt Ceiling Deal
Aug 11, 2011 by Sam Rosen-Amy
As you might have heard, last week Congress finally negotiated an end to the debt ceiling crisis. The basics of the deal are well-known: Republicans agreed to raise the debt ceiling through the next election in exchange for significant spending cuts. But how does the deal actually work? Our new FAQ should help you understand the details behind the deal.
When Are We Going to Have a Real Discussion About the Deficit?
Jun 8, 2011 by Craig Jennings
Sen. Jon Kyl (R-AZ) is getting specific about what the hostage takers Republicans want in exchange for raising the debt ceiling.
Life After Debt Ceiling
May 20, 2011 by Craig Jennings
On May 16, the United States Treasury auctioned off $72 billion in bonds, and as it did so, it reached the limit of its $14.294 trillion limit on how much it can legally borrow. But the world didn't end. Or at least the bond market -- the collective pool of investors that buy us debt -- went about its businesses as if nothing happened. A full on freak out by the bond market would drive up the cost U.S. borrowing and, according to Federal Reserve Chair Ben Bernanke, "destabilize" the financial system and "have extremely dire consequences for the U.S. economy."
Yes, Speaker Boehner, There is a Revenue Problem
May 10, 2011 by Craig Jennings
Yesterday, after a speech on his preferred course of action on raising the debt ceiling, House Speaker John Boehner (R-OH) said that "We do not have a revenue problem. We have a spending problem." Actually, the Speaker has a math problem.
read in fullBad Idea
Apr 29, 2011 by Craig Jennings
"I thought it over, and putting the American at economy in grave peril once a year would solve all my issues, so I figure, let's do it six times a year."
read in fullThe False Sense of Balance of a Balanced Budget Amendment
Apr 27, 2011 by Craig Jennings
With federal borrowing rapidly approaching its statutory limit, Washing politicians are falling all over themselves to figure out how to extract more budget concessions from President Obama and Senate Majority Leader Harry Reid (D-NV) in exchange for not throwing the world's financial markets into a panic.
House Finishes Year in a Blaze of Controversial Legislation
Dec 17, 2009 by Sam Rosen-Amy
Yesterday, in what most news organizations are calling a "flurry" of legislative action, the House passed a relatively large package of contentious bills, including the Defense appropriations bill, an increase to the debt limit, and a jobs bill. The Defense bill, originally thought to be the most difficult of the four bills, easily sailed through the House, 395 to 34, and the Senate immediately began its debate on the bill. The other two bills, however, proved to be much closer, and foreshadow legislative confrontations in the beginning of 2010.
House to Finish up Appropriations, Push Other Fiscal Business to Next Year
Dec 15, 2009 by Gary Therkildsen*
On Wednesday, the House is likely to finish appropriations for the fiscal year with a vote on the last spending measure, Defense. The lower chamber will also vote to extend the debt limit temporarily, a move that will put the thorny political issue off until 2010.
read in fullCongress to Increase Debt Limit for Fourth Time In Four Years
Jan 10, 2006 by Matthew Madia
Last April Congress called for an increase in the debt limit -- the national debt is expected to hit $8,184 billion in mid-February -- however they have yet to act. Lawmakers are expected to take up the issue in February after voting on final tax and budget reconciliation bills, marking the fourth time during President Bush's presidency the debt limit has needed to be raised.
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