News
Market Watch | GOP begins search for broad deal on budget
Senior Republicans in Congress, frustrated over their inability to strike a deal to reopen the government, began shifting from their drive to undercut the 2010 health-care law, which has been the central element of the dispute, toward a broader budget deal.
Econ Comments & Analysis
Real Clear Markets | Is Obama Going For Broke In Washington's Fiscal Fight?
Is Obama going for broke in Washington's fiscal fight? The president's non-negotiable stance in the ongoing battle over federal spending and the debt limit's increase may be more than mere bargaining bravado. It may be the realization that without a major win here, his administration has little left to lose.
Forbes | Don't Believe The Debt Ceiling Hype: The Federal Government Can Survive Without An Increase
Ignore what you hear and read in the news. The federal government actually reached the legal debt ceiling about four months ago. Since then, the government has been financing its monthly budget deficit by stealing/borrowing money from other government funds, like the federal government employees’ pension fund. In about two weeks, the government will run out of tricks to keep operating as if nothing has happened. If the debt ceiling is not raised by then, the government has to balance its budget.
Politico | One way out on the debt ceiling
Wouldn’t it be a relief if, instead of having to deal with a dysfunctional Congress, the president could avoid the coming debt ceiling impasse with a simple executive order, or bold stroke of his pen? People of good faith have suggested various ideas for doing just that, such as declaring the debt limit unconstitutional, selling the nation’s gold reserves, or even ordering the U.S. Mint to produce a $1 trillion platinum coin.
Mercatus | Congress and the President Must Get Serious about Debt Crisis
Failure to come to an agreement on a continuing resolution has led to the current government shutdown, even as another epic battle looms over another increase in debt ceiling.
