All Things US Budget & Debt Related

Most recent stories in All Things US Budget & Debt Related

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  William Davis

  

  Senate votes to raise debt limit by $2.5T, avoiding default

  Associated Press - Brian Slodysko

  WASHINGTON (AP) — Congress averted a catastrophic debt default early Wednesday morning after Democratic majorities in both chambers voted to send a $2.5 trillion increase in the nation’s borrowing authority to President Joe Biden over lockstep Republican opposition. Capping a marathon day, the House …

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  William Davis

  

  McConnell secures GOP support for new debt strategy

  POLITICO - By Burgess Everett and Heather Caygle

  Senate leaders seem to have found a path forward to avoid a debt cliff without Republican votes. Mitch McConnell believes he’s convinced a skeptical Senate Republican Conference to allow Democrats to more easily raise the debt ceiling, a critical development as the country faces a mid-December debt …

• https://www.nytimes.com/2021/12/03/business/economy/debt-ceiling-xdate.html

  

  William Davis

  

  The New York Times

  Dec 3, 2021
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  William Davis

  

  US budget deficit hits $2.77 trillion in 2021, 2nd highest

  Associated Press - Martin Crutsinger

  WASHINGTON (AP) — The U.S. budget deficit totaled $2.77 trillion for 2021, the second highest on record but an improvement from the all-time high of $3.13 trillion reached in 2020. The deficits in both years reflect trillions of dollars in government spending to counteract the devastating effects …

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  William Davis

  

  Senate Democrats Reportedly Near Agreement On Plan To Raise Taxes On Billionaires

  Forbes - Nicholas Reimann

  Democrats in the U.S. Senate appear to be closing in on an agreement to create a new tax system for the country's richest people and families, and even centrists like Sen. Joe Manchin (D-W.Va.) and Sen. Kyrsten Sinema (D-Ariz.) appear to be onboard, according to The Washington Post. Key Facts The …

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  William Davis

  

  Pentagon chief warns default would harm national security, endanger troop pay

  POLITICO - By Connor O’Brien

  Defense Secretary Lloyd Austin also says he would have “no authority or ability” to pay contractors on time. Defense Secretary Lloyd Austin warned Wednesday that a U.S. debt default would have far-reaching consequences for national security, and would even endanger pay and benefits for millions of …