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Bill passed after senators rejected 11 proposed amendments
The IMF expects US public debt to continue rising, helping drive government debt worldwide to close to 100% of global gross domestic product by 2029, from 93% last year.
A car plowed into a crowd at a Christmas market in eastern Germany on Friday, leaving five people dead and more than 200 injured, dozens of them critically.A 9-year-old boy was among those killed ...
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 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 ...
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 ...
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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 ...