Republicans and Democrats disagree over how recent bank closures should impact the debt limit stalemate, and have taken divergent lessons from past economic crises.
Category: National Debt (US)
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Double-Barreled Economic Threat Puts Congress on Edge
The New York Times – Business: -
Biden’s $6.8 Trillion Budget Proposes New Social Programs and Higher Taxes
The New York Times – Business:The president proposed trillions of dollars in new spending that has no chance of passing a Republican House, even as he sought to reduce deficits by raising taxes on business and the rich
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Biden Will Release Dead-on-Arrival Budget, Picking Fight With GOP
The New York Times – Business:The president’s plans have little in common with the budget Republicans are set to release this spring, as the nation hurtles toward a possible default on its debt.
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Here’s What the Fed Chair Said This Week, and Why It Matters
The New York Times – Business:Jerome H. Powell, the Fed chair, opened the door to a more aggressive policy path — but emphasized that it depended on incoming data.
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Biden Is Set to Detail at Least $2 Trillion in Measures to Reduce Deficits
The New York Times – Business:The president’s proposals, included in the budget he will release on Thursday, are expected to heavily feature tax increases on corporations and high earners.
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Biden Is Set to Detail at Least $2 Trillion in Measures to Reduce Deficits
The New York Times – Business:The president’s proposals, included in the budget he will release on Thursday, are expected to heavily feature tax increases on corporations and high earners.
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Debt Default Would Cripple U.S. Economy, New Analysis Warns
The New York Times – Business:As President Biden prepares to release his latest budget proposal, a top economist will warn lawmakers that Republicans’ refusal to raise the nation’s borrowing cap could put millions out of work.
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Republican Votes Helped Washington Pile Up Debt
The New York Times – Business:As they escalate a debt-limit standoff, House Republicans blame President Biden’s spending bills for an increase in deficits. Voting records show otherwise.
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IRS Decision Not to Tax Certain Payments Carries Fiscal Cost
The New York Times – Business:The Biden administration has opted not to tax state payments to residents, a decision that could add to the nation’s fiscal woes.
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U.S. Could Default on Debt as Early as Summer, New Estimate Says
The New York Times – Business:The Bipartisan Policy Center said the nation could run out of cash this summer or early fall if Congress did not raise the debt limit.
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U.S. on Track to Add $19 Trillion in New Debt Over 10 Years
The New York Times – Business:Congressional Budget Office projections released on Wednesday suggested rising interest rates and bipartisan spending bills are adding to deficits, amid a partisan fight on fiscal policy.