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Prior to the 2011 debt ceiling crisis, the debt ceiling was last raised on February 12, 2010 to $14.294 trillion. [ 41 ] [ 42 ] On April 15, 2011, Congress passed the last part of the 2011 United States federal budget in the beginning 2012, authorizing federal government spending for the remainder of the 2011 fiscal year, which ended on ...
The debt-ceiling drama may be over, but -- for state governments -- the ramifications are just beginning to reverberate. The new law requires a 12-member, bipartisan "super committee" to recommend ...
The U.S. debt ceiling talks continue to stagnate in Washington, but the degree to which the rest of the country cares seems limited at best. In the meantime, the debate appears to be political ...
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In practice, the administrations of Presidents Barack Obama and Joe Biden have rejected relying on legal arguments against the constitutionality of the debt ceiling. Obama said in 2011 that his lawyers "were not persuaded that that is a winning argument." [78] In 2023, Biden's Treasury Secretary Janet Yellen called this strategy "legally ...
A special election was held May 24, 2011. [34] Kathy Hochul (D) June 1, 2011 California 36th: Jane Harman (D) Resigned February 28, 2011, to become the head of the Woodrow Wilson Center. [35] A special election was held July 12, 2011. [36] Janice Hahn (D) July 19, 2011 Nevada 2nd: Dean Heller (R) Resigned May 9, 2011, when appointed to the ...
The President and Congressional leaders have agreed on a package to raise the debt ceiling and reduce deficits by $2.5 trillion over the next decade. Congress still has to pass the.
August 2 – The United States Senate passes legislation to raise the debt ceiling in order to avert the 2011 US debt ceiling crisis and President Barack Obama signs it into law; it thus became the Budget Control Act of 2011. [216] [217] August 3 – It is announced that Jerry Lewis would no longer host any further MDA telethons. Earlier this ...