by Jane Richey | Jan 9, 2013 | Fiscal Responsibility, Politics
The United States could face a debt-ceiling crisis as early as mid-February, according to an expert report out Monday. The Bipartisan Policy Center (BPC) estimates that the nation will begin defaulting on its payment obligations between Feb. 15 and March 1, unless...
by Jane Richey | Jan 2, 2013 | Fiscal Responsibility, Politics
Never mind the “fiscal cliff.” America went bankrupt, technically, at midnight on December 31, 2012. We hit the debt ceiling of $16.394 trillion. Yet the U.S. government needs to borrow more money than is legally allowed. So Treasury Secretary Timothy...
by Jane Richey | Dec 31, 2012 | Fiscal Responsibility, Politics
The United States will reach its $16.4 trillion borrowing limit on Dec. 31 and undertake “extraordinary measures” to avoid default, the Treasury Department informed congressional leaders in a letter on Wednesday. The notice about the debt ceiling came packaged with a...
by Jane Richey | Dec 31, 2012 | Fiscal Responsibility, Politics
The U.S. government reached its $16.4 trillion borrowing limit on Monday, according to the Treasury Department. Treasury Secretary Timothy Geithner informed congressional leaders in a letter Monday that the government has begun employing “extraordinary...
by Jane Richey | Dec 1, 2012 | Fiscal Responsibility, Politics
WASHINGTON (AP) — Figures on government spending and debt (rounded). The government’s fiscal year runs Oct. 1 through Sept. 30. Total public debt subject to limit Nov. 29– 16,283,989, 000,000 Statutory debt limit 16,394,000, 000,000 Total public debt...
