News
Bloomberg | U.S. Treasury Takes Extra Steps to Stay Under Federal Debt Limit
The Treasury Department announced further steps to keep funding the government without going over the nation’s debt limit, amid a stalemate between Congress and the Obama administration on approving an increase in the ceiling.
National Journal | S&P Warns Congress of Risks of Political Brinkmanship on Debt
The debt-ceiling deal expired this weekend, but the credit-rating agency that sent shock waves through financial markets when it downgraded the U.S. credit rating in 2011 is again warning Congress that a credible five-year plan to stabilize the federal deficit is as necessary—and elusive—as ever.
Econ Comments & Analysis
National Journal | How Much Does Debt-Limit Brinksmanship Cost? Last Time, More Than $1B
Whenever the federal government reaches its debt limit, as it did on Sunday, it marks the beginning of a period of uncertainty. In the case of such a fiscal emergency, the Treasury Department breaks the glass and pulls out emergency tools to buy some extra time before the government defaults on its debts.
