Page 15 - ப்ரெஸிடெஂட் வூட்ரோ வில்சன் News Today : Breaking News, Live Updates & Top Stories | Vimarsana
This Week in History, March 30 - April 5
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America is losing its leader of the free world mantle That s bad news for Israel
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Another big fight is brewing over the U.S. debt ceiling, which is a statutory limit on how much the government can borrow to pay its bills. In an interview, Senate Minority Leader Mitch McConnell said Republicans wonât agree to lift the debt ceiling in âthis free-for-all for taxes and spendingâ environment. Congress suspended the debt ceiling in 2019 for two years, ending July 31, 2021.
The U.S. Treasury can take emergency measures that allow it to keep borrowing without an increase in the limit until as late as November. But if the ceiling isnât raised by then, the U.S. faces either drastic across-the-board spending cuts or the prospect of an unprecedented default â with potentially dire economic consequences. Economist Steve Pressman explains why we have a ceiling â and why he thinks itâs time to abolish it.
As most people are aware, the Suez Canal was blocked earlier this year for six days (March 23-29). According to the Suez Canal Authority, which maintains and operates the waterway, the canal has closed five times since it opened for navigation in 1869. Interestingly, the Panama Canal has never been blocked, and has only been closed for a day. That occurred in 1989, when U.S. military forces staged an assault in Panama to depose the country’s leader, Manuel Noriega.
A shortcut to the Orient
The idea of creating a water passage across the isthmus of Panama to link the Atlantic and Pacific oceans dates back to at least the 1500s, when King Charles I of Spain (whose nation laid claim to most of Central and South America) instructed his regional governor to survey a route along the Chagres River. A shorter water route from Europe to Asia across Central America was the goal. However, engineering and other challenges of building a canal across the mountainous, jungle terrain proved much
Why America has a debt ceiling: 5 questions answered
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