Commentary The debt ceiling debate in Washington has been widely discussed but so far, few investors are truly worried. Most believe that when the deadline arrives, Congress and the White House will reach an agreement—even if it’s to kick the can down the road. As of now, Treasury Sec. Janet Yellen has set the deadline…
What to Do If the Debt Ceiling Fight Worsens
May 14, 2023
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US ‘Has to Default’ on Something If Debt Ceiling Isn’t Raised Before Deadline: Yellen
May 14, 2023
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Business & Marketsdebt ceilingeconomic policieseconomyExecutive BranchinflationJanet YellenJoe BidenPolicies & ImpactsPoliticsUSUS News
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The U.S. government will have to default on some payments if Congress fails to raise the national debt ceiling before June, Treasury Secretary Janet Yellen said. “If Congress fails to do that, it really impairs our credit rating. We have to default on some obligation, whether it’s Treasuries or payments to Social Security recipients,” Yellen…
Default Can Be Avoided in July If Treasury Can Weather June Cash Crunch: CBO
The U.S. government could avoid defaulting on its debt through July if the Treasury Department can receive enough revenue in June, according to the Congressional Budget Office (CBO). The agency stated in its updated guidance that if the government can collect enough tax revenue and the Treasury continues employing its extraordinary measures, it “will probably allow…
Neither Default Nor Chaos
Commentary Treasury Secretary Janet Yellen has warned again (and again and then again) about the dire approach to Washington’s debt ceiling. She has told the nation that the prospect is near and that it could cause the country to default on its debt, an event, she adds, that would bring financial and economic chaos. Media…
The Democrats’ Debt Ceiling Position Makes Zero Sense
Commentary “If you buy a car,” White House press secretary Karine Jean-Pierre explained the other day, “you are expected to pay the monthly payment. … It’s that simple.” Is it? Now, obviously, those who argue that the president can cancel millions of student loans by decree aren’t in a position to offer lessons on personal…
IN-DEPTH: Market Jitters Over Debt Ceiling Impasse Sends Cost of Insuring Against Default to Record Highs
May 11, 2023
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As the White House and top Republican lawmakers are stuck at an impasse over the debt ceiling, the cost of insuring exposure to U.S. government debt has touched record highs. Spreads on 1-year credit default swaps (CDS), a market-oriented measurement of default risks, climbed to a record high of 172 basis points on May 10….
Debt Ceiling Fight Starting to Take Toll on Markets
May 11, 2023
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As the White House and top Republican lawmakers are stuck at an impasse over the debt ceiling, the cost of insuring exposure to U.S. government debt has touched record highs. Spreads on 1-year credit default swaps (CDS), a market-oriented measurement of default risks, climbed to a record high of 172 basis points on May 10….
Meeting Over Debt Ceiling Between Biden, Congressional Leaders Delayed Until Next Week
May 11, 2023
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Business & Marketsdebt ceilingeconomic policiesExecutive BranchHouse Speaker Kevin McCarthyJoe BidenPoliticsUS
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The debt ceiling meeting scheduled for May 12 between President Joe Biden and top congressional leaders has been pushed back until next week, according to The White House. The leaders were scheduled to meet to discuss lifting the debt ceiling in order to avoid a default on the country’s debt obligations before the June 1…
Meeting Over Debt Ceiling Between Biden, Congressional Leaders Delayed to Next Week
May 11, 2023
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Business & Marketsdebt ceilingeconomic policiesExecutive BranchHouse Speaker Kevin McCarthyJoe BidenPoliticsUS
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A meeting between President Joe Biden and top congressional leaders that had been scheduled for May 12 to discuss the debt ceiling has been pushed back until next week, according to the White House. The leaders were scheduled to meet to discuss lifting the debt ceiling in order to avoid a default on the country’s…
Wasteful, ‘Woke’ Spending ‘Existentially Dangerous’ for America: Conservative Group
May 11, 2023
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With the United States on the brink of default, “woke” ideology is the last place the federal government should be spending the taxpayers’ money, according to a conservative think tank. Speaking before members of the House Budget Committee on May 11, Center for Renewing American Policy Director Paige Agostin described woke-ness as an identity-based form…
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