Hours from debt deadline, US pins hope on Senate exit strategy
The United States Wednesday stood hours from a fateful fiscal deadline, with a chaotic political standoff threatening to trigger a debt default and rock the global economy
Read MoreTag: debt ceiling
Senate leaders appear close to US debt ceiling deal
Senate leaders appear close to a deal to avoid a self-inflicted political calamity that would shred US credibility and rock the global economy.
Read MoreTreasury: US to exhaust funds Oct 17 without debt hike
The US Treasury said Tuesday that it would still run out of funds on October 17 without a debt ceiling hike.
Read MoreFiscal cliff deal: After rush of relief, debt ceiling clash already looms
The vote marked a clear victory for the White House on what had been a rock-solid GOP principle: no tax increases. Fiscal cliff averted now its debt…
Read MoreStill no deal as US teters on fiscal cliff
Lawmakers were aiming to bring a bill to the Senate floor that would keep tax breaks on the books for middle-class Americans while letting those for the rich expire.
Read MoreLawmakers still chasing $16.4T debt ceiling
Economists agree the $500 billion in fiscal pain due to kick in as soon as the new year starts would stifle the gathering US economic recovery and send the United States back into recession, spelling bad news for the global economy as well.
Read MoreThe Daily Show – Debtageddon-Staggering Compromise
“The debt ceiling debate ends in a budget deal that raises the debt limit and cuts trillions in spending, but doesn’t increase revenue.”
Read MoreColbert – GOP pander to Tea Party and Wall Street with kabuki theater
Republicans vote against their own measure to raise the debt ceiling while simultaneously call Wall Street to assure them the vote is “just for show”.
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