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 | Nov 30, 2012 | Uncategorized
House Minority Leader Nancy Pelosi (D-Calif.) said on Friday that Congress should hand over to President Barack Obama the power to unilateral increase the limit on the U.S. government’s debt. In effect, under the plan Pelosi is endorsing, the only limit on the...
by Jane Richey | Jul 25, 2012 | Constitutionally Limited Goverment, Free Markets
Treasury Secretary Timothy Geithner plans to warn House lawmakers that regulators need their help to ensure the financial system is safe from threats posed by Europe and elsewhere. According to his prepared testimony before the House Financial Services Committee,...
