Debt Ceiling

West side view of the United States Capitol building.

Senate Resumes Talks After House Vote Cancelled

The seemingly never-ending story of negotiations to end the Washington stalemate over the looming debt ceiling took a few more unexpected turns this after. First, the U.S. House cancelled a ...
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Congress and President Ignore International Calls for Debt Solution

Congress and the White House have become adroit at ignoring the desires of voters to resolve the issue of the government debt and sending home roughly 800,000 workers. So why ...
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global economy

OECD Lashes Out at U.S. Budget Trouble to No Avail

The Organisation for Economic Co-operation and Development (OECD) is the latest organization to attack the budget freeze in Washington. Like the International Monetary Fund (IMF), World Bank and scores of ...
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gavel

Appellate Court Judge Posner Calls Debt Ceiling “Pernicious”

U.S. Appellate Court Judge Richard Posner weighs in Monday morning with a blog post on the approaching crisis over raising the federal debt ceiling. Posner, long associated with conservative and ...
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The Debt Ceiling Debate Could Kill the Bull Market

It's back! It is time for yet another round of political infighting over the lovely state of our nation's finances. Monday was bloodied by undertones of war or military intervention ...
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White House South Lawn, Blue Sky, Washington, DC, USA

Americans to Obama: The Economy Is All That Counts

President Obama cannot run for office again, at least not for the presidency. So, the effects of his approval ratings are academic. However, he may care about how he is ...
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CBO Argues for an End to Federal Cuts

The Congressional Budget Office (CBO) reports that it is this simple: the cancellation of the automatic spending reductions specified by the Budget Control Act of 2011, or sequestration as it ...
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West side view of the United States Capitol building.

U.S. House Kicks the Can on Debt Ceiling

The U.S. House of Representatives today approved legislation that lifts the debt ceiling and allows the Treasury Department to borrow more money. The bill postpones the day of decision from ...
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Money, US, $100 bills

Stocks to Buy for the Coming Rise in Interest Rates (UBS, AMTD, SCHW, LNC, UNM, HIG)

We recently wrote that shorting the Treasury bond market may very well be the next biggest short-sale trade since the subprime mortgage short. While rates have dipped a little in the ...
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Money, US, $100 bills

The Debt Ceiling and the $1 Trillion Coin

All the attention paid to avoiding the fiscal cliff may have obscured an even more important legislative failure. Congress did not act to raise the U.S. debt ceiling by the ...
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Congress, White House Prepare for Looming Budget Battles

The most widely covered story by the financial press, and perhaps the news media in its entirety, between now and year's end will be the war between the president and ...
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Budget Deal: No New Taxes

"Read my lips: no new taxes"--George H. W. Bush at the 1988 Republican National Convention The final budget bill crafted to allow an increase in the debt cap will be ...
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D-Day Minus 6: Countdown to Default?

Six days before the United States will have insufficient funds to pay all its creditors, Republicans and Democrats have yet to reach an agreement on how to avoid default and ...
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Debt-Ceiling Deal Appears Closer to Becoming Reality

The debt-ceiling Armageddon being fought in Washington has never been chiefly about money. Because everyone except the most extreme members of the Tea Party Movement knows that the debt limit ...
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The Most Complex Budget Proposal: Too Much, Too Late

Senator Tom Coburn of Oklahoma spent most of Sunday promoting his plan to transform the U.S. budget on network TV. He released the 600-page proposal today. It was not worth ...
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