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In January 2013, the United States reached the $16.394 trillion debt ceiling that had been enacted following a crisis in 2011. President Obama and members of the Democratic Party proposed raising the debt ceiling, with some advocating for its complete dismissal.
For the second time in three years, the U.S. government is again running perilously close to reaching the debt ceiling -- but Wall Street is indicating that its level of concern this time around ...
The debt ceiling is an aggregate figure that applies to gross debt, which includes debt in the hands of the public and intra-government accounts. As of October 2013, about 0.5 percent of the debt is not covered by the ceiling. [9] There is debate about whether the debt ceiling is constitutional.
Fear over the debt ceiling has stock markets mixed. Skip to main content. 24/7 Help. For premium support please call: 800-290-4726 more ways to reach us. Sign in. Mail. 24/7 Help. For premium ...
Nati Harnik/APBerkshire Hathaway CEO Warren Buffett By Matthew J. Belvedere and Becky Quick If Republicans and President Barack Obama were to fail to reach an agreement to raise the nation's ...
On August 2, 2011, President Obama signed the Budget Control Act of 2011 as part of an agreement with Congress to resolve the debt-ceiling crisis. The Act provided for a Joint Select Committee on Deficit Reduction (the "super committee") to produce legislation by late November that would decrease the deficit by $1.2 trillion over ten years.
Photo by: Cristian_R47. In 2011, lawmakers merely threatened a government shutdown as the United States' debt surged toward the debt ceiling. Standard & Poor's, owned by McGraw-Hill Financial ...
The No Budget, No Pay Act of 2013, signed into law on February 4, 2013, suspended the public debt ceiling in the United States until May 18, 2013. The public debt limit at the start of the suspension period was $16.394 trillion. The Act made a special rule relating to debt issued during the suspension period.