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The debt ceiling compromise bill sailed to passage in the House on Wednesday evening. The House voted 314-117 after just over an hour of debate on the legislation. The bill required a simple ...
The nation will hit its roughly $36 trillion debt limit on Tuesday, when the Treasury Department will start taking extraordinary measures to allow the government to pay its bills, outgoing ...
800-290-4726 more ways to reach us. ... while JPMorgan CEO Jamie Dimon believes debt is the "most predictable" crisis facing ... there's little good news on that front. In its latest update the ...
The United States debt ceiling is a legislative limit that determines how much debt the Treasury Department may incur. [23] It was introduced in 1917, when Congress voted to give Treasury the right to issue bonds for financing America participating in World War I, [24] rather than issuing them for individual projects, as had been the case in ...
In December 2012, the Treasury calculated that $239 million in United States Notes were in circulation, which in accordance with the debt ceiling legislation, are excluded from the statutory debt limit. The $239 million excludes $25 million in U.S. Notes issued prior to July 1, 1929, determined pursuant to Act of June 30, 1961, 31 U.S.C. 5119 ...
The theory is based on a clause in the 14th Amendment that reads “the validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and ...
Debt held by the public, or the amount the U.S. owes to outside lenders after borrowing on financial markets, is already at about 100% of GDP, with that ratio soon expected to blow past the all ...
The 2011 S&P downgrade was the first time the US federal government was given a rating below AAA. S&P had announced a negative outlook on the AAA rating in April 2011. The downgrade to AA+ occurred four days after the 112th United States Congress voted to raise the debt ceiling of the federal government by means of the Budget Control Act of 2011 on August 2, 2011.