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Showing posts with label debt ceiling. Show all posts
Showing posts with label debt ceiling. Show all posts
Thursday, January 10, 2013
Friday, July 1, 2011
Thursday, June 30, 2011
Friday, June 24, 2011
Sunday, June 19, 2011
Friday, June 17, 2011
Tuesday, June 14, 2011
Thursday, June 2, 2011
Despite Political Theater US Gov't is "Too Big to Fail"
Paul Craig Roberts
Lew Rockwell
Although the financial press speculates about a downgrade of the US government's credit rating and default if political impasse prevents the debt ceiling from being raised in time, I doubt anyone really believes that the debt ceiling will not be raised. It is just all a part of the political theater of the next couple of months.
Republicans will blame the budget deficit and accumulated national debt on Medicare and Social Security. Wall Street sees billions of profits in privatizing either, and debt rating agencies will oblige their Wall Street paymasters by opining from time to time that US Treasury bonds might be downgraded unless "entitlements can be addressed and the deficit brought under control."
Democrats will say that the budget deficit cannot be addressed without an increase in tax revenues, especially from the rich whose incomes have exploded upward while their tax rates have declined.
Lew Rockwell
Although the financial press speculates about a downgrade of the US government's credit rating and default if political impasse prevents the debt ceiling from being raised in time, I doubt anyone really believes that the debt ceiling will not be raised. It is just all a part of the political theater of the next couple of months.
Republicans will blame the budget deficit and accumulated national debt on Medicare and Social Security. Wall Street sees billions of profits in privatizing either, and debt rating agencies will oblige their Wall Street paymasters by opining from time to time that US Treasury bonds might be downgraded unless "entitlements can be addressed and the deficit brought under control."
Democrats will say that the budget deficit cannot be addressed without an increase in tax revenues, especially from the rich whose incomes have exploded upward while their tax rates have declined.
Tuesday, May 31, 2011
Political theater clouds US debt ceiling vote
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US lawmakers Tuesday hold a certain-to-fail vote on raising the government's borrowing limit © AFP/File Shawn Thew |
WASHINGTON (AFP) - US lawmakers Tuesday hold a certain-to-fail vote on raising the government's borrowing limit, revealing political posturing on a issue the White House warns could have "calamitous" economic consequences.
The Treasury says that unless Congress votes to raise the $14.29 trillion debt ceiling by August 2, Washington could be forced to default on its obligations, in a move that would send shockwaves through the global economy.
Opposition Republicans, who won the House of Representatives last November amid a public mood of steep anxiety over the ballooning size of government debt, will only back raising the debt limit in return for steep cuts in the deficit.
Monday, May 16, 2011
Sunday, May 15, 2011
Tuesday, May 3, 2011
US Treasury to cut issues as May 16 debt cap nears
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The US Treasury © AFP/File Karen Bleier |
WASHINGTON (AFP) - The US Treasury said Monday it would begin cutting certain debt issues as it confirmed the government would reach its borrowing ceiling on May 16.
With Congress still not agreed on raising the ceiling to permit the government to continue financing its spending, the Treasury said it would stop issuing state- and local-government series securities on May 6, money used for things such as local infrastructure development.
While the move appeared aimed at sparking pressure from the states on the legislature, it also would help buy time for a political deal on the ceiling, by extending to August 2 the time the country would be forced to stop borrowing and possibly default on its debt.
Sunday, April 17, 2011
Wednesday, April 13, 2011
Tuesday, April 12, 2011
Tuesday, April 5, 2011
Wednesday, March 2, 2011
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