If the debt limit is breached, investors expect Treasury to put bond payments first. It’d be politically and practically fraught.
Category: Politics and Government
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An Australian Open Final With Tennis and Debate on the Ukraine War
Nearly a year after Russia invaded Ukraine, a Russian-turned-Kazakh will play a Belarusian in the finals, which is sure to stir the debate over whether athletes from those countries should participate in international sports.
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An Australian Open Final With Tennis and Debate on the Ukraine War
Nearly a year after Russia invaded Ukraine, a Russian-turned-Kazakh will play a Belarusian in the finals, which is sure to stir the debate over whether athletes from those countries should participate in international sports.
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How ‘Extraordinary Measures’ Can Postpone a Debt Limit Disaster
Treasury Secretary Janet L. Yellen will soon need to use accounting maneuvers to keep the United States from defaulting on its debt.
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China Returns to Davos With Clear Message: We’re Open for Business
Emerging from coronavirus lockdown to a world changed by the war in Ukraine, China sought to convey reassurance about its economic health.
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Novak Djokovic Returns to the Australian Open, No Longer a Villain
Djokovic’s deportation was major news in January 2022, but a year later, the Grand Slam tournament, country and sport seem eager to move on.
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Medicare Begins to Rein In Drug Costs for Older Americans
Reforms embedded in the Inflation Reduction Act will bring savings to seniors this year. Already some lawmakers are aiming to repeal the changes.
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A United Europe Weathers Crises, but Deeper Challenges Remain
Differences on NATO and E.U. enlargement, energy and climate, and relationships with the United States, China, Russia and Ukraine will prime Davos talks.
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As Humanitarian Crises Escalate, So Do Demands to End Them
David Miliband, head of the International Rescue Committee, says the global refugee crisis “is manageable, not insoluble.”
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U.S. Will Hit Debt Limit Jan. 19, Yellen Tells Congress
The Treasury Department expects to begin taking “extraordinary measures” to continue paying the government’s obligations ahead of what’s expected to be a big fight to raise the borrowing cap.
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U.S. Deficit Fell to $1.4 Trillion in 2022
Borrowing remained elevated last year as spending fights loom in a divided Congress.
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From Disciplinarian to Cheerleader: Why China Is Changing Its Tone on Business
With the economy in a fragile state, Chinese officials are starting to use more business-friendly language, and also to back their words with action.