News
Bloomberg | U.S. Default Poses Low Risk to Money Funds, Fitch Says
The risk to money-market mutual funds from a short-term default in U.S. Treasuries is low, barring a rush by investors to sell the funds, Fitch Ratings said today in a report.
Econ Comments & Analysis
Fortune | Why China won't sway the debt ceiling debate
As Congress drags its feet against a looming deadline to increase the nation's borrowing limit or risk default, China urged Washington this week to act quickly and ensure the safety of its U.S. investments.
WSJ | Puerto Rico's Debt Trap
A crisis, if nothing else, focuses minds and as the Washington showdown continues, minds are focusing on the possibility of a U.S. default on its debt obligations. So perhaps there's a lesson in the sad case of Puerto Rico and its debt mess.
Politico | Pat Toomey: ‘Zero chance’ of default
Sen. Pat Toomey said Wednesday that even if the debt ceiling is not raised before Oct. 17, the U.S. will not default on its debt, and the White House is using the threat of default to “cow” Republicans.
CNN Money | The folly of the debt ceiling
For a time, I worked internationally giving governments technical advice on their budgets. Imagine: An American giving advice to other countries on how to budget. No wonder they didn't pay any attention to me.
CRS | In Brief: CRS Resources on the FY2014 Funding Gap, Shutdown, and Status of Appropriations
When federal government agencies and programs lack budget authority, they experience a "funding gap." Under the Antideficiency Act (31 U.S.C. § 1341 et seq.), they must cease operations, except in certain circumstances. When there is a funding gap that affects many federal entities, the situation is often referred to as a government shutdown.
