Anyone who remembers the collapse of Lehman Brothers Holdings Inc. little more than five years ago knows what a global financial disaster is. A U.S. government default, just weeks away if Congress fails to raise the debt ceiling as it now threatens to do, will be an economic calamity like none the world has ever…
Tag: debt ceiling
Republicans worry they’ll lose House if they botch debt talks
There’s growing angst among Republicans that the party’s House majority could be at risk in 2014 if the deep GOP divisions that emerged during the recent “fiscal cliff” negotiations persist in looming negotiations over a slew of budgetary issues. Even as Republican officials maintain the GOP majority is safe, several lawmakers and longtime activists warn…
Newt Gingrich warns GOP on debt ceiling
Former House Speaker Newt Gingrich said Friday that the upcoming showdown over the debt ceiling isn’t a political winner for House Republicans, but dubbed it a “dead loser.” “They’ve got to find, in the House, a totally new strategy,” Gingrich said on MSNBC’s “Morning Joe.” “Everybody’s now talking about, ‘Oh, here comes the debt ceiling.’…
Republican Resistance Is Holding Back Economy [graph]
Technically, we won’t hit the fiscal cliff — Washington’s preferred term for the near-simultaneous triggering of more than $600 billion tax increases and spending cuts, as well as the predicted point at which we once again hit the debt ceiling — until after the election. But the effects could be felt long before. The 2011…
Debt Ceiling Debate Is Revived In Washington[audio]
Treasury Secretary Timothy Geithner warned on Tuesday that the U.S. will likely hit its debt limit sometime before the end of the year. At the same event in Washington, House Speaker John Boehner promised that any increase in the nation’s debt ceiling would have to be accompanied by corresponding budget reductions. SOURCE: Debt Ceiling Debate…