All Posts Tagged With: "debt ceiling"
Obama Signs Debt Limit Deal to Prevent Default
President Barack Obama signed into law a compromise plan that would increase the country’s debt limit a few hours before the midnight deadline. This would prevent a default from happening that could be disastrous not only to the United States but also to the rest of the world. The Senate passed the plan a little [...]
House Passes Debt Ceiling Bill
House Speaker John Boehner got the Republicans in the House of Representatives to approve the debt limit bill with a vote of 269-161. The compromise bill will give the federal government the ability to borrow $400 billion dollars more and let President Barack Obama ask for another $500 billion in the next couple of months. [...]
Who gets paid when Debt Limit Deadline is Not Met?
It looks like Congress will not be able to come up with a debt ceiling plan before the August 2 deadline. The federal government would run out of money to pay its obligations and now people are asking who gets paid and will be cut off on August 3. There’s a long list of bills [...]
States will take Heavy Hit after Resolving Debt Limit Issue
States will be financially affected by any of the debt reduction deals that Congress would approve. This is according to the Federal Funds Information for States, a nonpartisan organization that records fiscal impact of federal budget deals on the states. The group has been sending questionnaires to governors across the nation to collect data about [...]
Republicans and Democrats Come Out with Opposing Debt Limit Plans
President Barack Obama and House Speaker John Boehner gave two competing plans last Monday as the Democrats and Republicans still haven’t reached an agreement with regards to the nation’s debt cap. The two parties can’t seem to agree on the size of the debt limit increase. The House Republicans want a raise of $1 trillion, [...]
President Obama Open to Debt Limit Deal
The White House gave congressional leaders more time to come up with a deficit reduction plan that would prevent a government default to happen in less than two weeks. President Barack Obama said that he is open for a short-term increase in the debt limit if the leaders can agree on a plan before August [...]
Minnesota Lawmakers in No Hurry to End Shutdown
Minnesota legislators are not in a hurry to find a compromise that will end the only state government shutdown in the nation. Top Republicans and Democrats have not given any indications when they will hold talks again to resolve the standoff. May and June deadlines assed and still the state leaders haven’t come up with [...]
House Turns Down Bill to Increase Debt Limit
A measure that would raise the United States debt limit by $2.4 trillion failed to get the House’s approval. The Democrats said that the vote for the legislation was rigged so that it would be defeated. The Republicans announced last week that the vote would demonstrate that they wouldn’t support any extension of the $14.3 [...]
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