President Barack Obama released his fiscal year 2015 budget yesterday and most commentators and news sources agreed the document won’t go far in the divided Congress.
As expected, the Senate yesterday approved a bill that will suspend the statutory debt limit until March 15, 2015. The measure passed 55 to 43 with two members not voting.
Yesterday the House voted to suspend the debt ceiling for one year. The Senate is expected to pass the legislation today. Here are the “5 Things” you need to know about this latest maneuver and the debt ceiling in general.
Yesterday the U.S. House of Representatives voted for a no-strings-attached suspension of the debt limit.
On a 332 to 94 vote, the House yesterday passed a two-year budget agreement that sets spending limits for fiscal year 2014 (the current fiscal year) and fiscal year 2015.
Yesterday federal judge Steven Rhodes ruled Detroit was eligible file bankruptcy. What did the judge say, what does it mean and how did the city get into this mess?
Today, Federal Bankruptcy Judge Steven Rhodes ruled that the city of Detroit would receive chapter 9 bankruptcy protection. When Detroit filed for bankruptcy in July 2013, it had an estimated $18 billion in financial liabilities.
According to CNN and Reuters, President Obama has enlisted the help of several “A List” (and “B” and “C” list) stars to help him improve Americans’ perceptions about Obamacare.
The U.S. House voted yesterday to delay for one year the Affordable Care Act provision that requires individuals to have health insurance. (The provision will take effect on Jan. 1, 2014 if Congress doesn’t act.) The chamber also passed a bill that agreed with President Obama’s decision to delay for one year the Affordable Care Act requirement that employers with more than 50 employees provide health insurance.
Deficits are shrinking so our fiscal problems are solved, right? Wrong. As Washington settles into fiscal complacency after news of a monthly surplus in the federal budget and projections that the annual deficit is shrinking, long-term budget questions are ignored.