After months of advocating for a “balanced approach” to our debt and deficits, it seems like the administration is pulling a 180 on the debt ceiling.
Bankrupting America, a project of Public Notice, today launched a Debt Ceiling Resource Center to provide facts and the latest news and developments as Congress debates increasing the nation’s debt ceiling this summer.
A drink limit at a party prevents dangerous driving, and a debt limit prevents an unhealthy economy. So why then in the last 10 years have we raised the debt ceiling 13 times and added on more than $10 trillion in debt?
What is the debt ceiling and why does it matter?
Lawmakers in Washington are gearing up for another debt ceiling debate this month when the suspension on the statutory debt limit expires on May 19.
A new Inspector General report argues that bonuses given to General Services Administration personnel were excessive. The Washington Post has the story.
On May 18 the debt limit suspension that Congress passed in January will expire. At that point, the debt limit will automatically increase to whatever amount the national debt is on May 19.
Reuters reports the Treasury Department believes it will be able to hold off the need to vote on the debt ceiling until at least September.
While some economists see deficit emphasis as an impeding recovery, the Congressional Budget Office says the only thing worse for the economy would be no deficit emphasis.
Gretchen Hamel, executive director of Public Notice, joins AM Tampa Bay to discuss how Americans support piroritizing debt payments and cutting government spending.