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.
debt ceiling history
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...
The Debt Ceiling Isn't What Worries Warren Buffett
Investment guru Warren Buffett isn't sweating the debt ceiling as much as he is some of the country's other issues.
Buffett this weekend said the $16.4 trillion in debt the country has collected is not the number on which everyone should be focused.
Short-Term Debt Ceiling Increase a Strategic Move for GOP
Republicans this week will vote on a short-term debt ceiling increase that gives Washington three more months to agree on budget cuts.
The GOP would approve the short-term increase with the requirement that both the House and Senate pass a budget before the new deadline - or fail to get paid.
The move, according to Republican party strategists speaking to The Washington Post, was designed to give the GOP leverage in the...
What Happens if We Hit the Debt Ceiling?
With possibly less than a month before the United States hits its $16.4 trillion debt ceiling - aka falls off the "debt cliff" - the country is wondering what happens if Washington fails to raise the limit.
Almost everyone agrees that even though the GOP has hinted it will refuse to raise the debt limit to get its way with spending cuts, Congress will agree to another increase. The debt ceiling has been raised 79 times since 1960.
What could happen if it's not raised is a bit of a guessing game, since it's never...
U.S. Debt Ceiling: Government "Borrows" Pension Funds to Avoid Default
The U.S. Treasury, in order to avoid default, has resorted to an eyebrow-raising move: it has borrowed from the federal employee pension fund as the country nears its debt ceiling.
The U.S. government stopped investing in the federal employee pension fund Tuesday "to avoid breaching the statutory debt limit," according to a letter Treasury Secretary Timothy Geithner sent to Congress.
Geithner said that the move will free up some $156...
Why You Should Ignore the Coming Debt Ceiling Debate
Under the guise of yet another debt ceiling debate, Republicans and Democrats will spend much of the week demonizing each other on the Washington stage.
But don't be fooled. This so-called debate will be nothing more than a planned-in-advance sideshow to supply each side with 2012 election campaign fodder.
The deal put in place on Aug. 2 essentially guaranteed that the limit on the U.S. national debt would be raised to $16.4 trillion...
The Debt Ceiling Debate: Will the Democrats' Gambit Lead to a Victory in the 2012 Election?
We talked yesterday (Thursday) about the debt ceiling debate, and how the GOP is making the most of its opportunity to affect the economy in the run up to the 2012 election.
Well, the Democrats are doing the same thing - except whereas the Republicans are looking to make long-term fixes at the expense of short-term growth, Democrats are doing the opposite.
I'll show you what I mean.
The 2012 Election and the Truth Behind the Debt Ceiling Debate
At this point, there can't be anyone left who truly believes that the debt ceiling debate taking place in Washington is really about what's good for America.
The truth is it's about the 2012 election - and the party that wins the debt ceiling debate will be the party that comes out on top next year.
It's politics - pure and simple.
Republicans and Democrats have...
The Ugly Debt Ceiling Debate
The United States is expected to reach its $14.29 trillion debt limit no later than May 16. House Speaker Rep. John A. Boehner, R-OH, promises to extract deep spending cuts as a prerequisite to any deal with Democrats on raising the debt ceiling — but the GOP refuses to just roll over on the issue....