News
Politico | House passes clean debt ceiling bill
After a frantic few days, the House voted 221-201 to lift the debt ceiling until March 2015, removing the threat of a default until well after the November midterm election. The bill was supported by 193 Democrats and just 28 Republicans.
Politico | The Word That Changed the Debt Ceiling Debate
The official line? “We believe that defaulting on our debt is the wrong thing,” says House Speaker John Boehner (R-Ohio). “We don’t want to do that.” On Tuesday, the House duly voted to raise the debt limit without conditions, sending the action over to the Senate.
Econ Comments & Analysis
CBO | S. 540, Temporary Debt Limit Extension Act
Upon enactment, S. 540 would suspend the current debt limit through March 15, 2015. On the following day, the debt ceiling would be raised by the amount of obligations incurred up to that point.
CBO | Testimony on the Budget and Economic Outlook: 2014 to 2024
Testimony before the Committee on the Budget, United States Senate
Blogs
CATO | Federal Government: Much Smaller in Canada
Canada released a new federal budget yesterday. The ruling Conservatives are centrists and far too supportive of the welfare state. Nonetheless, the government is expected to balance the budget next year while steadily reducing spending and debt as a share of GDP.
Heritage Foundation | Double-Whammy: The No-Debt-Limit-Bill Increases Spending and the Debt
The no-debt-limit extension bill that was introduced after 9 p.m. on Monday night manages to increase not just the debt, but spending as well.
