News
CNN Money | Debt ceiling: Countdown to default
Congress is sowing the seeds of a debt ceiling crisis: If lawmakers don't raise the limit on federal borrowing soon, they will put the nation at risk of defaulting on some of its legal obligations.
Econ Comments & Analysis
Bloomberg | Treasury Says U.S. Default Has Potential to Be Catastrophic
A default caused by Congress failing to raise the $16.7 trillion federal debt limit “has the potential to be catastrophic,” the U.S. Treasury Department said in a report today.
Real Clear Markets | Raising the Debt Ceiling Is No Panacea, Because Eventually It's Moot
With Congress deadlocked in a debate over funding for the president's $1.4 trillion new health care entitlement, the fiscal year has concluded with no agreement on a continuing resolution to finance federal government activities. The latest crisis has prompted a public uproar, but it should come as no surprise. Washington has utterly failed to demonstrate any fiscal governance in the face of a budget crisis that has been looming for years.
WSJ | The Treacherous Politics of the Fiscal Showdown
They said they wanted to avoid it, but at the stroke of midnight Monday, four people got the government shutdown they wanted.
AEI | Don't wait on the debt limit
Much is in flux in Washington this week. But two important realities have remained constant, whether certain elements in the GOP accept them or not: We must not default on the federal debt, and we shouldn't wait until we're on the brink of default to raise the debt ceiling. Here's why.
