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President Joe Biden and House Speaker Kevin McCarthy met face-to-face Wednesday for more than an hour of highly anticipated spending talks — "a good first meeting," the new Republican leader ...
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 the past.
The United States's public debt is an issue that has been steadily climbing the national agenda: Jerome Powell believes it's "past time" to have an adult conversation about the issue, while ...
"By 2034 debt service at 6% rates would consume 45% of all tax revenue; at 9% rates it would eat up 83%. The budget deficit would balloon from 6% of GDP to 11% or 18%, respectively," Gundlach ...
A number of unusual solutions to the ongoing debt-ceiling crisis have gotten new attention in the past week as skepticism abounds that a bipartisan agreement can be reached ahead of a key deadline ...
On October 16, the Senate passed the Continuing Appropriations Act, 2014, a continuing resolution, to fund the government until January 15, 2014, and suspending the debt ceiling until February 7, 2014, thus ending the 2013 United States federal government shutdown and debt-ceiling crisis.
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.
Many of us go about our daily lives — and handle our personal finances — without thinking about the national debt, which, as of Sept. 15, 2024, exceeds $35 trillion. It’s a number so ...