Janet L. Yellen, the Treasury secretary, called on Congress to raise or suspend the debt limit so the United States could continue paying its bills.
Category: National Debt (US)
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Trickling Tax Revenue Complicates Debt Limit Talks
The Treasury Department’s ability to delay a default, the so-called X-date, hinges on how fast the money is coming in.
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Biden Faces His First Big Choice on Debt Limit
After Republicans passed a bill that pairs spending cuts and fossil fuel support with raising the nation’s borrowing cap, the president must decide when and how to negotiate
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The Debt Ceiling Debate Is About More Than Debt
Republicans’ opening bid to avert economic catastrophe by raising the nation’s borrowing limit focuses more on energy policy than reducing debt.
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As Possible Debt Limit Crisis Nears, Wall Street Shrugs
Few investors have focused on the possibility that Congress will not raise the nation’s borrowing limit in time to avoid an economically catastrophic default.
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As Possible Debt Limit Crisis Nears, Wall Street Shrugs
Few investors have focused on the possibility that Congress will not raise the nation’s borrowing limit in time to avoid an economically catastrophic default.
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Top Economist Leaves White House, and an Economy Not Yet ‘Normal’
The New York Times – Business:Cecilia Rouse says lingering effects of the coronavirus pandemic continue to haunt the recovery from recession — and drag on Americans’ optimism for the economy.
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Double-Barreled Economic Threat Puts Congress on Edge
The New York Times – Business:Republicans and Democrats disagree over how recent bank closures should impact the debt limit stalemate, and have taken divergent lessons from past economic crises.
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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.