News
CNN Money | Debt ceiling countdown: What happens next
Thursday, October 17, is now just hours away. And Congress still has not raised the country's debt ceiling. At this point, there's a very good chance it won't make the Thursday deadline.
Bloomberg | Treasury Bill Rates Fall on Optimism on Lifting of Debt Ceiling
Rate on Treasury bills maturing in the next six weeks fell amid optimism lawmakers are working to resolve a fiscal impasse with the U.S. approaching the deadline outlined for when the nation exhausts its borrowing capacity.
CNN Money | Punting on budget likely to lead to another stalemate
It's still not clear if lawmakers will come together this week to raise the debt ceiling and fund the government.
CNBC | Relax! Government won't run out of money Thursday
All of the grave doom-and-gloom warnings aside, the federal government is unlikely to run out of money Thursday even if the latest hopes for a budget deal don't pan out.
Econ Comments & Analysis
Washington Times | What difference does it make?
Washington politicians’ egos, penchant for nepotism and disregard for taxpayers’ money knows no bounds. For weeks leading up to the country’s second government shutdown in nearly 20 years, all America talked about, and continues to, is the nation’s spending — and the nearly $17 trillion debt problem.
Fortune | Lagarde: Debt ceiling breach 'most serious thing that could happen'
A short-term debt-ceiling fix now appears to be the most likely outcome of the prolonged political mud fight that has shut down the government for the last 15 days. But even if lawmakers do manage to pass an extension, it will do little to resolve the larger questions over U.S. economic leadership, International Monetary Fund Managing Director Christine Lagarde said Tuesday.
Mercatus | How Much of the Government Is Actually Shut Down?
The shutdown has limited 17 percent of spending, amounting to $626 billion. This means 83 percent of projected 2014 spending of $3.6 trillion, amounting to $2.9 trillion, is unaffected and is continuing uninterrupted. Even if Congress is unable to agree on a spending bill, the government is still functioning, and many Americans who are dependent on various federal programs continue to receive funds.
AEI | If we hit the debt ceiling: Default is unlikely, recession is certain
Default hysteria has heated up as the federal government shutdown spills into its third week and October's debt deadline draws closer. The president, Treasury Secretary Jack Lew, and most Republicans agree that a debt default, not paying interest on federal debt, would be a calamity far worse than the Lehman crisis. PIMCO co-chief executive Mohamed El-Erian said as much earlier this month. But PIMCO’s other co-chief, Bill Gross, is buying treasuries. Why?
