We have a short-term debt ceiling fix - with emphasis on short term.
U.S. President Barack Obama Monday night signed into law a bill suspending the debt ceiling, a move that allows the government to avoid default-at least until August when Congress will again have to act to prevent such a scenario.
The new law lifts the current debt limit through May 18, allowing the federal government to continuing borrowing to pay its bills until...
Debt ceiling crisis
Are Steep U.S. Spending Cuts Inevitable?
U.S. Rep. Paul Ryan (R-WI), the chairman of the House Budget Committee, is adamant Republicans will resist any further tax increases - a staunch GOP stance that makes steep spending cuts almost certain.
Ryan, the 2012 vice president nominee, told NBC's "Meet the Press" Sunday that the $1.2 trillion worth of automatic spending cuts will take effect because "Democrats have opposed our efforts to replace those cuts with...
Will the Debt Ceiling be Good for Gold and Silver?
Investors preparing for Washington's budget battle need to know: Will the debt ceiling be good for gold and silver?
Thanks to recent legislation passed in the U.S. House of Representatives Wednesday, the debt ceiling could be extended until May 19. The bill now moves onto the Senate where it is expected to get the green light, then should be signed quickly by U.S. President Barack Obama.
That gives investors time to prepare for what any budget...
Debt Ceiling Bill Includes Controversial "No Pay" Plan
Republicans will vote tomorrow (Wednesday) on a debt ceiling bill that will give Congress nearly four months to make some major budget decisions - or risk losing out on pay.
The bill aims "to ensure complete and timely payment of the obligations of the United States Government until May 19, 2013," according to a release Monday from the House Rules Committee. Exactly how much the $16.4 trillion debt ceiling will be lifted hasn't been discussed....
Investors: Looking at a Post Debt Ceiling Crisis World
Global Economic Intersection article of the week
With the debt ceiling extended, the risk of a catastrophic automatic pro cyclical Treasury response, as previously discussed, has been removed.
What's left is the muddling through with modest topline growth scenario we've had all year.
With a budget deficit humming along at 9% of GDP, much like a year ago when markets began to discount a double dip recession, I see little chance of a serious...
Brace for the Worst as Debt Ceiling Crisis Deadline Nears
If Washington lawmakers don't beat the debt ceiling crisis deadline, we'll see plummeting stocks, soaring interest rates, a slumping dollar and a severe shock to the weak economy.
All of which will hit you in the wallet - and hard.
Most investors are not prepared for the consequences of the failure of U.S. lawmakers to agree on a plan that will raise the federal debt ceiling before the Aug. 2 deadline.
Few believed it even possible, but with only a week to go Congressional leaders and U.S....
America for Sale: Liquidate Assets to Avert Debt Ceiling Crisis, Republicans Say
It would be the greatest garage sale in history.
The United States Treasury possesses 261.5 million ounces of gold, worth about $392.25 billion at current prices.
Some in Washington say the time has come to sell some of its gold, along with other government assets such as land and buildings, to pay down the $14.3 trillion federal debt and give Congress more time to resolve the federal debt ceiling crisis.
"It's just sort of sitting there," Ron Utt, a senior fellow at the Heritage Foundation,...