Debt Ceiling

“Uniquely American And Uniquely Stupid”: The Makings Of The Next Debt Ceiling Debacle

Sat, 18 May 2013 14:30:16 GMT

Source: mykeystrokes.com --- Saturday, May 18, 2013
I hate to interrupt fulminations about President Obama’s three incredible shrinking scandals with something as prosaic as concern about the GOP’s threatening to sabotage the economy, but a couple of bits of real news emerged yesterday regarding the Debt Ceiling (yes that, again). It’s actually a perfect juxtaposition: On the same day that an interview […] ...

US wins breathing space on debt ceiling

Sat, 18 May 2013 01:40:40 GMT

Source: newslanc.com --- Friday, May 17, 2013
FINANCIAL TIMES: The US will not have to raise the federal Debt Ceiling until September, said Treasury secretary Jack Lew on Friday, in another sign of how the resurgence of tax revenues is changing the politics of US deficits… Big payments expected from mortgage agencies Fannie Mae and Freddie Mac, plus the upward trend in revenues and downward path of spending, mean those measures will work for longer than previously expected. The new date pushes the Debt Ceiling deadline closer to the cut-off for passing a new spending bill at the end of September. That increases the chances that they become one high-stakes negotiation with the simultaneous threat of both a government shutdown and a default… (more) ...

Debt Ceiling Coming Off Suspension

Sat, 18 May 2013 00:07:00 GMT

Source: www.fixthedebt.org --- Friday, May 17, 2013
The suspension of the statutory Debt Ceiling put in place earlier this year will be lifted on May 18. However, policymakers are showing little urgency in addressing it because of a confluence of factors.… ...

Treasury says U.S. can pay its bills for months, putting off fight with Congress over raising debt ceiling

Fri, 17 May 2013 23:04:37 GMT

Source: www.modbee.com --- Friday, May 17, 2013
Any confrontation over the nation’s Debt Ceiling is now unlikely until after Labor Day. The Department of Treasury in Washington, D.C. - McClatchy - Tish Wells ...

Lew: Debt ceiling will hit after Labor Day

Fri, 17 May 2013 22:27:58 GMT

Source: www.news10.net --- Friday, May 17, 2013
President Obama's team warns congressional Republicans about the Debt Ceiling ...

The Debt Ceiling Is Back

Fri, 17 May 2013 21:28:59 GMT

Source: www.zerohedge.com --- Friday, May 17, 2013
While many may not recall that the US has been without an official Debt Ceiling for the past three months, or even that it has a Debt target Ceiling, the bonus period agreed upon in January to let the nation rake up some $400 billion in addition Debt in the past few months, officially runs out tomorrow, May 19, when the Debt limit will be restored to its previous level plus the Debt that was incurred in the interim, which means around $16.735 trillion in total Debt as of yesterday , plus the amount incurred today, excluding the Debt not subject to the cap which is about $30 billion. And since no grand bargain is forthcoming in a world in which official governance is now almost universally in the hands of the world's central bankers and out of the hands of the theatrical career politicians, it means that the next deadline in the endless US Debt Ceiling saga will be the day when the extraordinary measures to extend the Debt Ceiling run out. Such a deadline will likely be hit in just over three months. As the WSJ reports: Mr. Lew said the Treasury would be able to use the same extraordinary measures that the department deployed during the last Debt-Ceiling standoff at the start of the year. Those include halting investments in government worker retiree funds and drawing down some accounts. “Treasury is not able to provide a specific estimate of how long the extraordinary measures will last,” Mr. Lew said. But because of strong t ...

Debt ceiling: Treasury starts juggling act

Fri, 17 May 2013 20:16:37 GMT

Source: www.wapt.com --- Friday, May 17, 2013
The Debt Ceiling clock is about to start running again. The U.S. Treasury on Friday began using "extraordinary measures" to keep the country from defaulting on its obligations. As part of a budget compromise in February, lawmakers suspended the countr... ...

House Republicans Are Right to Focus on Spending Cuts as Part of Debt Ceiling Increase

Fri, 17 May 2013 20:15:17 GMT

Source: blog.heritage.org --- Friday, May 17, 2013
Newscom This week, the House Republican conference met to discuss what their priority will be in connection with any vote to increase the Debt Ceiling. This is timely since the current suspension of the Debt limit expires tomorrow. According to reports of the Republican House caucus meeting, “Members came away with the impression that the GOP conference wants entitlement cuts to be demanded, along with any possible links to a pro-growth overhaul of the tax code.” These lawmakers’ instincts on prioritizing entitlement reform are spot on. Debt Still the Problem Despite some foolish notion that deficit spending “ is pretty much solved ” because the Congressional Budget Office (CBO) reports that the red ink for 2013 is projected at $642 billion rather than $845 billion, the nation’s financial footing is still on a “ fiscal collision course .” Think of our country’s Debt problem as a patient with life-threatening cancer. The patient has just learned that the disease’s progression has slowed a tiny bit. It would be utterly foolish to regard the cancer as any less serious and it would be the height of folly to put off the unpleasant prescribed surgery. In this case, the nation’s life-saving treatment is entitlement reform . Avoid Distractions and Unify Speaker John Boehner (R–OH) is looking for caucus unity as they move into the Debt limit fight. He found caucus unity in January and announced their commitment to produce “a plan that wil ...

Amidst Obama Scandals, Republicans Prepare a New Debt Ceiling Hostage

Fri, 17 May 2013 20:10:00 GMT

Source: www.usnews.com --- Friday, May 17, 2013
Republicans are preparing to take the Debt Ceiling hostage…again. ...