As another debt ceiling
showdown approaches, Oregons Senator Jeff Merkley and Virginias Senator Tim Kaine today introduced new legislation aimed at ending Congress abuse of the debt ceiling
as a political hostage.
On September 8, the same day that President Trump signed a bill into law that suspended the debt ceiling
and enabled unlimited federal borrowing, the national debt reached and exceeded $20 trillion.
Also, a debt ceiling
and budget fight was expected in September, though this has now been pushed to later in 2017, after president Trump struck a deal with congressional Democrats.
If the debt ceiling
isn't increased soon, the government will not have the adequate funds to continue operations past Sept.
Congress would concentrate on legislation to lift the federal debt ceiling
before turning to a budget deal aimed at easing automatic spending constraints, Reuters reported.
This is despite parliament on Tuesday voting to veto a government plan to increase the country's debt ceiling
by BD2 billion, to cope with cash shortages against a backdrop of lower oil prices.
WASHINGTON (CyHAN)- Two US federal agencies have issued warnings that Congress must take action to raise the government's borrowing limit, the debt ceiling
, by March 16, or face consequences including default.
US Congress raised the artificial debt ceiling
to pay bills without a fuss, but the move may galvanize extremists who want to slow government spending, explain James Leitner, president of Falcon Management, and Ian Shapiro, a Yale political science professor.
To our dismay, the debt ceiling
odyssey continues with the fiscal deal recently passed by Congress.
Senate majority leader Henry Reid and minority leader Mitch McConnel announced a deal to raise the nation's debt ceiling
Concurrently, Congress was in the midst of an ugly debate regarding the debt ceiling
and I drew parallels between the two in an editorial published on August A, 2011, entitled: On the brink.
Three Democratic senators introduced legislation Tuesday that would permanently allow Congress to disapprove debt ceiling
increases, instead of approving them.