Us Debt Ceiling

US debt ceiling crisis: Why Joe Biden is wary of invoking the 14th Amendment

Joe Biden and his administration have been searching for ways to act unilaterally to avoid an economic ‘calamity’ if Congress can’t reach agreement to allow more borrowing. While some advocate using the 14th Amendment, the president has viewed the route as a problematic and untested legal theory

Biden cuts short Asia trip to meet McCarthy as Treasury Secy warns June 1 'hard deadline' to raise US debt ceiling

The US government could run out of money and default on its $31 trillion debt as early as June 1 if Congress does not authorise more borrowing

US debt ceiling crisis: What a default could mean for America, the world

A US default looms large as Republicans and Democrats spar over raising the government’s spending limits. It has forced Joe Biden to cancel his upcoming trip to Australia, resulting in the Quad Summit with leaders from India, Australia and Japan being called off

'Kumbaya moment or economic chaos?' How the US debt limit standoff might end

House Speaker Kevin McCarthy said the US would not default. But he is still linking that issue directly to spending cuts in a way that Joe Biden wants to avoid. His debt limit bill would reverse discretionary spending to 2022 levels, then place a one per cent cap on increases going forward

US Senate votes to temporarily extend debt ceiling to avoid default as Democrats Republicans agree to a stop-gap fix

The breakthrough — which temporarily defers the crisis by adding another $480 billion to the allowable debt total — came with an estimated 11 days to go until the country would no longer have been able to borrow money or pay off loans for the first time in its history

Fed chief Jerome Powell says 'no rush' to hike interest rates in 'solid' but slowing US economy

Jerome Powell’s comments solidified a Fed policy shift last month in which it indicated it would pause a three-year cycle of rate hikes

US debt rises: Why the American Ponzi scheme might just keep running

As countries age, they will keep generating excess savings. A lot of this money is likely to find its way into the United States. aaging current-account surplus countries may prefer to park their funds in safer countries even though returns are higher in certain emerging markets

Debt ceiling absurdity: How the US Fed is running a ponzi scheme

This is a perfect Ponzi scheme where the government is paying off old debt by issuing new debt.

US govt debt is a risk but don't fret over it

Everyday lives have to continue despite governments running high debt as unless there is a real, near term risk of default due to lack of money to pay creditors, the risk may only be on paper. The paper risk may exist for a long period of time, maybe for generations. Hence, selling all assets and buying gold or some other so called safe haven asset may never work in this generation or even the next.<br /><br />

US shutdown shows why Washington is biggest risk to US economy

Steep spending cuts are a big reason. But the governance-by-crisis also may be prompting businesses to sit on their cash rather than building new factories, buying more equipment and hiring more workers, some economists say.<br /><br />