National Debt (US)
Why Hitting the Debt Ceiling Would Be Very Bad for the U.S. Economy
WASHINGTON — Washington and Wall Street are bracing for a revival of brinkmanship over the nation’s statutory debt limit, raising fears that the fragile U.S. economy could be rattled by a calamitous self-inflicted wound. For years, Republicans have sought to tie spending cuts or other concessions from Democrats to their votes to lift the borrowing […]
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U.S. Will Hit Debt Limit Jan. 19, Yellen Tells Congress
WASHINGTON — Treasury Secretary Janet L. Yellen warned on Friday that she would have to begin employing “extraordinary measures” to continue paying the nation’s bills this month if lawmakers do not act to raise the statutory debt limit and that her powers to delay a default could be exhausted by early June. Ms. Yellen’s letter […]
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Analysis Deems Biden’s Climate and Tax Bill Fiscally Responsible
After more than a year of trying — and failing — to pack much of President Biden’s domestic agenda into a single tax-and-spend bill, Democrats appear to have finally found a winning combination. They’ve scrapped most of the president’s plans, dialed down the cost and focused on climate change, health care and a lower budget […]
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Manchin Pulls Plug on Climate and Tax Talks, Shrinking Domestic Plan
WASHINGTON — Senator Joe Manchin III, Democrat of West Virginia, pulled the plug on Thursday on negotiations to salvage key pieces of President Biden’s agenda, informing his party’s leaders that he would not support funding for climate or energy programs or raising taxes on wealthy Americans and corporations. The decision by Mr. Manchin, a conservative-leaning […]
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Inflation and Deficits Don’t Dim the Appeal of U.S. Bonds
Looking Ahead, and to the Past What would have to happen for these rock-bottom borrowing costs to rise significantly? There could be a crisis of confidence in Fed policy, a geopolitical crisis or steep increases in the Fed’s key interest rates in an attempt to kill off inflation. In a more easily imagined situation, some […]
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Debt Ceiling Window Is Narrowing, Bipartisan Policy Center Warns
The United States faces a default sometime between Dec. 21 and Jan. 28 if Congress does not act to raise or suspend the debt ceiling, a Washington think tank warned on Friday. The projection from the think tank, the Bipartisan Policy Center, was a narrower window than it provided last month, and the nonpartisan group […]
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