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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 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.
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 ...
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 ...
Geithner had previously sent letters to Congress requesting an increase in the debt ceiling on January 6, April 4 and May 2. [108] May 19. In Pennsylvania, teenager Angela Marinucci becomes the first of The Greenboro Six to be convicted of the murder of Jennifer Daugherty, a mentally disabled woman who was tortured and murdered in February 2010 ...
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August 2, 2011: The 2011 debt-ceiling crisis ends with the Budget Control Act of 2011. December 18, 2011: The United States completed its withdrawal of troops from Iraq, formally ending the Iraq War. [7] January 24, 2012: 2012 State of the Union Address; June 28, 2012: In National Federation of Independent