WASHINGTON — With the White House and Congress engaged in their second major battle in 18 months over the debt limit, some lawmakers, economists and analysts are offering a simple solution: Just get rid of it. The U.S. is one of the …
NEW YORK (CNNMoney) -- It's official: The U.S. government hit the debt ceiling on May 16. Treasury Secretary Tim Geithner told Congress he would have to suspend investments in federal retirement funds until Aug. 2 in order to create …
Congress is in the process of abdicating its power to control the borrowing of the U.S. government, at a time when the national debt exceeds $17 trillion and continues growing unabated. It waived this power twice last year, “suspending” …
It is debt-ceiling time again. On Saturday, suspension on the U.S. borrowing limit will be lifted and the Department of the Treasury will have to begin to employ extraordinary measures to stay under the cap. Fiscal tensions were defused, but …
But considering Congress' track record, it's safe to assume there is a non-zero chance that we do hit the debt ceiling. …
The debate in Washington over the debt ceiling is heating up. The U.S. has now hit the $14.294 trillion debt limit approved in February 2010. With our national credit card maxed out, basic fiscal responsibility requires Congress to vote “no” on …
Many dismiss gold as a sort of lunatic fringe investment. But prices have continued to climb along with the level of the U.S. debt ceiling. The opinions expressed in this commentary are solely those of Paul R. La Monica. Other than Time …
It was just over two years ago when Congress last fought about increasing the nation's borrowing limit. After that battle, Standard & Poor's downgraded the credit rating of the United States by one notch, and the S&P 500 stock index …
Can’t the government, at the end of the day, just print money, with the unfortunate downside being inflation? It turns out that it isn’t actually that simple, because the framers of our financial system were pretty farsighted. And that, in turn, …
It's back. The debt limit returned on Monday, March 16. And at $18.1 trillion, debt subject to the limit is roughly $1 trillion higher than when Congress temporarily suspended the limit on borrowing last year. The debt limit is the amount of debt …