Debt ceiling news 2014: The House of Representative passed a one-year extension to the United States' debt limit on Tuesday evening.
Sen. Majority Leader Harry M. Reid (D-NV) has already said he would pass the bill, although Sen. Ted Cruz (R-TX) may demand a 60-vote threshold on the deal. With U.S. President Barack Obama's signature, the nation would no longer face the threat of defaulting on its debt of $17.2 trillion within the next couple of months.
The deal passed by a narrow vote, 221 to 201, with...
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debt ceiling deal
Four Things the Debt Ceiling Deal Doesn't Fix
While everyone in Washington right now is patting themselves on the back in the wake of Wednesday's debt ceiling deal, the reality is that it does little to address the nation's deepest budget issues.
True, the Band-Aid agreement will fund the U.S. government through Jan. 15 and lift the debt limit through Feb. 7....
Here are the four biggest issues that Congress ducked out on...
Debt Ceiling Deal Doesn't Fix This Larger Global Issue with United States
Senate leaders finally hammered out a debt ceiling deal today (Wednesday) that avoided a looming potential debt default. It also reopened the government that has been shut down for more than two weeks.
Investors cheered the news and sent stocks up 205 points, or 1.36%, today.
While a deal solves short-term problems, it's not doing much to help the long-term nightmare....
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Why the Government Shutdown Is Good for Investors
The markets are already nervous over a stubborn group of Republicans threatening a government shutdown unless Democrats agree to defund Obamacare, or at least delay implementation of the healthcare law another year.
"A government shutdown starting next week is looking increasingly likely," Jim Russell, a regional investment director at U.S. Bank, told the Associated...
Debt Ceiling Bill Nothing More Than a Band-Aid
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...
The Debt Ceiling 2013: How We Got Here, What Could Happen
A new twist to investing and financial planning is averting travesties that the government itself created; first it was the fiscal cliff, now it's the debt ceiling 2013.
The debt ceiling is a part of the way government has to go about doing its business.
However, both sides of Washington have come to use the full faith and credit of the United States of America as a bargaining chip - and the consequences are huge.
But it wasn't always like this.
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 Intensifies Budget Pressure on Congress
The debt-ceiling showdown took center stage on Capitol Hill today (Wednesday) as a crucial vote on a Republican bill gave the Treasury the green light to borrow a fresh stash of cash until May 19.
The Republican-controlled House passed the bill by a 284-144 margin.
It now moves on to the Senate, where it is expected to pass quickly without any changes.
Senate Democrats are expected to back the plan even though they have been hesitant to...