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GOP lawmakers this week narrowly passed legislation to raise the debt ceiling. Here are some key points to know about the bill and the broader political context.
The debt ceiling, also known as the debt limit, is the amount the United States can legally borrow to fulfill its financial obligations. A failure to raise the limit would see the US default – a nigh-unthinkable event that would crater Washington’s credibility as a borrower and send financial markets across the world into a tailspin
Thanks to our conservative HERO, Mitch McConnell, Senate Democrats no longer must worry about the U.S. debt ceiling…at least not until December. But until then, some leftist economists have offered a new solution: A $1 trillion coin minted by the U.S. Treasury. Glenn and Stu explain the RIDICULOUSNE...
Economist Stephen Moore, Co-founder of the Committee to Unleash Prosperity, explains why it 'makes NO sense' to increase U.S. debt, ESPECIALLY while our economy is in a recovery: 'We should actually be paying down our debt right now…not increasing [it].' Plus, Moore tells Glenn what likely will happ...
Since World War II, Congress has voted to modify the debt ceiling 98 times — 21 of those since 2001. It used to be a routine adjustment to pay for the government's spending, but not anymore. What is it and why is it so controversial?