News
Fox News | How S&P's warning could actually help US debt
One reason that traders say Treasurys have looked surprisingly stable is the belief that S&P's move could spur action in Washington to tackle the country's debt.
Roll Call | ‘Gang of Six’ Approaches Compromise on Deficit Proposal
The group’s recognition that compromise is required perhaps explains why Conrad is embracing plans to overhaul Medicare, Medicaid and Social Security.
Econ Comments
Fox News | US default could be disastrous choice for economy
A default would likely trigger another financial panic like the one in 2008 and plunge an economy still reeling from high joblessness and a battered housing market back into recession.
Mercatus Center | Hitting the debt ceiling isn't the end of the line
The Treasury has a variety of options available, including drawing from the special programs it has in place to borrow money on the Fed’s behalf that doesn’t count toward the debt ceiling and selling assets the government now owns in GM, banks, and other financial institutions and use the proceeds to pay bills.
Fortune | A U.S. debt downgrade isn't the real problem
Standard & Poor's has a lot of people worried about the implications of a downgrade of the U.S. credit rating. The real worry is what our debt levels will do to the value of the dollar.
Blogs
Heritage Foundation | Morning Bell: Uncontrolled Spending Is the Real Threat
...it would take essentially everything that Americans produced in all of last year to pay off the existing national debt. That comes out to $45,000 of debt for each American.
Heritage Foundation | Former CBO Director: Let Debt Limit Debate Be Short, Sweet and Successful
The debt limit debate waits for the return of a recess-refreshed Congress, but if conservatives are ready for it, they can leverage the issue to enact spending caps and advance the budget the House passed last week…
