The U.S. government will reach its borrowing limit, or
debt ceiling, by Oct. 1.
Congress must act by Sept. 29 in order to raise
the debt ceiling, a more contentious vote than the one for Harvey aid.
Treasury Secretary Steven Mnuchin talks to Squawk Box's Becky Quick, Joe Kernen and Andrew Ross Sorkin about reducing the corporate tax rate, raising
the debt ceiling and improving the economy.
«Providing aid in the wake of Harvey and raising
the debt ceiling are both important issues, and Democrats want to work to do both,» they said.
``... I think that will be separate and distinct from
the debt ceiling.
... didn't do it so now we have a big deal with Dems holding them up (as usual) on
Debt Ceiling approval.
«The Harvey relief would pass on its own, and to use that as a vehicle to get people to vote for
a debt ceiling is not appropriate,» he said.
To wit, reports Tuesday suggested the Treasury Department was preparing drastic measures in case
the debt ceiling is not raised.
And only a few days ago all the world's eyes were focused on the U.S.
debt ceiling.
The debt ceiling is a different animal.
With Congress dragging its feet on raising
the debt ceiling, there are a lot of silly ideas making the rounds of cable TV networks, blogs — and the halls of Congress.
This brainless whopper surfaced the last time Congress played chicken with
the debt ceiling.
And somewhere between mid-October and mid-November the Treasury will run out of stop - gap measures to keep paying the government's bills and
the debt ceiling will have to be raised.
Big - business leaders are fed up with the tactics of conservative Republicans, who instigated a partial closure of the Federal government and engaged in brinksmanship over
the debt ceiling in a failed effort to stop the implementation of the Affordable Care Act.
Conservatives don't want to raise
the debt ceiling without getting anything in return, but his caucus can't agree on any type of compensation.
The same thing happened over the 2011
debt ceiling fight.
Democrats aren't going to supply any votes unless it's a clean
debt ceiling increase so it's up to House leadership to find something that can pass.
But while Amash's conservative record is strong, he has occassionally bucked his party, most notably by voting against Paul Ryan's budget and against the deal to raise
the debt ceiling.
Now, House Republicans barely have the energy to fight
another debt ceiling fight.
Now, compare that to what Bachmann said during the government shutdown and
debt ceiling fights last Fall:
With the Senate finally voting this afternoon to raise
the debt ceiling, enough time has probably elapsed for us to start laughing about the absurdist tragedy that played out in Washington D.C. over the last couple months.
Reid's proposal would raise
the debt ceiling enough so that it wouldn't have to be reconsidered until 2013, beyond the 2012 elections, as demanded by Obama.
While both plans would increase
the debt ceiling, ratings agencies have said a short - term increase such as the one proposed by House Republicans may not be enough to protect the U.S. from a ratings downgrade.
Carney insisted that Aug. 2 is the drop - dead date for the Treasury's cash flow — «beyond that date we lose our capacity to borrow» — and expressed confidence that
the debt ceiling would be raised by the deadline.
China's credit agency Dagong lowered its U.S. sovereign credit rating from A to A - on Thursday, even after
the debt ceiling had been lifted.
There are really two stunning things about the movement to mint a trillion dollar coin to avert
a debt ceiling crisis.
Perhaps he proposed both initiatives because he was appalled by the behavior of D.C. politicians in the summer scuffle over
the debt ceiling and because he believes the public sector right now is incapable of microfinancing in the service of jobs creation.
And in October or November, according to the latest estimates by the Congressional Budget Office (CBO), the government will once again hit its self - imposed
debt ceiling, a legislated limit on how much the country can borrow.
They want the government to make decisions on a variety of issues, including
the debt ceiling, spending and taxes.
Putting up with a few shuttered federal agencies seems like an OK price to pay if it brings the extremists to the negotiating table in time for a compromise on
the debt ceiling.
What's the point of having
a debt ceiling when it only gets raised?
After pinching pennies to avoid a U.S. default on debts in July, U.S. Treasury Secretary Tim Geithner now insists Uncle Sam will have to break its obligations to creditors in August unless the federal government's
debt ceiling is raised.
Does anyone think the current discussions on raising the U.S. government's
debt ceiling will result in anything other than approval?
So now the stakes are high, as The White House has refused to negotiate with the GOP on
a debt ceiling hike.
There were, among others,
the debt ceiling standoff - cum - rating downgrade of 2011 and the fiscal cliff scare of late 2012, followed by awfully - timed tax hikes and spending cuts earlier this year.
With this, the White House has now ruled out the two best options for preventing a default in the event that the House GOP refused to life
the debt ceiling.
Momentum disappeared as Congress became fixated on
the debt ceiling and Obamacare.
Republicans are demanding spending cuts to reduce the budget deficit as the price for supporting an increase in
the debt ceiling.
«And even more importantly, a failure to promptly raise
the debt ceiling, leading to a U.S. selective default, could seriously damage the global economy and financial system.»
At the end of the day, though, the biggest threat to Canada might likely come not from financial markets, but from what
a debt ceiling breach would do to U.S. consumer and business confidence and thus the pace of growth south of the border.
Markets have been relatively calm so far, and they might stay that way even if Uncle Sam stumbles over
the debt ceiling.
Myriad CEOs voiced displeasure about the congressional shenanigans surrounding
the debt ceiling.
They insist that spending and
debt ceiling bills are vital in their own right and should not come with conditions attached.
As quid pro quo for lifting the U.S. government's
debt ceiling last year, Republicans in Congress demanded $ 1.2 trillion worth of budget cuts over the next decade to drag Washington back into solvency.
Among other events, there's a threat of more skirmishes over
the debt ceiling and another government shutdown.
The deal, which is still making its way through Congress after an eleventh hour push from party bigs, has three main components: It immediately raises
the debt ceiling, includes around $ 2.1 trillion in spending cuts over the next 10 years, and creates a special Congressional committee to come up with long term deficit - reduction suggestions by this Thanksgiving.
Obama's jobs plan (speech transcript) has to win the approval of the same debt hawks in Washington who recently gave Standard & Poor's an excuse (read the press release here) to downgrade America's credit by threatening to not raise the nation's
debt ceiling.
Walden took interest in proposing legislation to ban the option because he thought the idea of minting a platinum coin to work around
the debt ceiling was a particularly absurd idea that exemplified «the problem of people in Washington not understanding the reality» of the national debt.
Walden didn't get too specific when asked what he would demand from President Barack Obama and other Democrats in order to lift
the debt ceiling.
In the category of «Well, that... didn't... work out,» leading Tea Party Republican Ted Cruz, who has been at the forefront of the shutdown and
debt ceiling offensive, commissioned a poll.