debt ceiling

A bipartisan group of U.S. lawmakers is reportedly readying a plan to solve the looming crisis over the debt ceiling by changing it from a fixed dollar amount to a percentage of national economic output. U.S. Representative Brian Fitzpatrick, the Republican co-chair of the moderate...

Goldman Sachs Group Inc (NYSE: GS) Chief Executive David Solomon is concerned that a political stand-off over the U.S. debt ceiling may lead to a fiscal crisis. "This is something that we should take very seriously because the consequence of getting it wrong will be real," he told Reuters...

The U.S. government reached its $31.4 trillion borrowing limit on Thursday with Treasury Secretary Janet Yellen reportedly informing Congressional leaders her department had commenced using extraordinary cash management measures that could stave off default until June 5. Given the circumstances,...

U.S. Secretary of the Treasury Janet Yellen sounded the alarm Friday, setting aside the long-running bipartisan debate about national debt limit after Republicans took control of the House of Representatives. What Happened: In a letter penned Friday to newly appointed House...

Economist Peter Schiff, a known gold bull, on Monday took to Twitter to slam the federal government’s extravagant spending and voiced his opposition to raising the debt ceiling. The debt ceiling is a limit on the total money the federal government can borrow through the sale of treasury...

Former Treasury Secretary Lawrence H. Summers believes the debt limit terror is a very serious threat in the backdrop of the current political scenario. “Debt limit terror is a much more serious risk in the context of rising interest rates, Treasury market illiquidity and increased foreign...

U.S. Treasury Secretary Janet Yellen called on Congress Thursday to raise the debt ceiling in order to prevent the American federal government from defaulting on its debts and ensuing financial chaos.  “We’ll be unable to pay our bills for the first time in American...

The debt ceiling debate in Congress is becoming louder, and markets are beginning to price a premium on U.S. debt by the end of the year. The Treasury is spending down its cash holdings by $1.5 trillion, the lowest level in recent times. The Federal Reserve reverse repo activity is at an all-time...

U.S. Treasury Secretary Steven Mnuchin said in a CNBC interview Thursday that under "the most conservative" scenario there may be a chance the federal government has a cash flow "issue" in early September. What Happened In the event the U.S. government runs out of cash in...

President Donald Trump agreed to a request from congressional Democrats to raise the debt ceiling and extend government funding through Dec. 15, while also tying it into relief funding for the victims of Hurricane Harvey. The plan, announced by Senate Democratic leader Chuck Schumer and House...

Nearly seven months into President Donald Trump’s term in office, his administration is still struggling with his top campaign promise: healthcare reform. Investors hoping that Trump and Congressional Republicans would quickly breeze their way through healthcare reform and tax reform have...

The deadline for the government to raise the debt ceiling has come and gone without any resolution from Congress. However, Americans should have no immediate concerns over a potential government shutdown. Although the government is forbidden from officially taking on new debt until a resolution is...

Congress has until March 15 to raise the federal debt ceiling. If not, the government may default on its debt. But Americans have heard this story many times in recent years. Throughout former President Barack Obama’s term, Congressional Republicans used debt ceiling deadlines as leverage to...

With the Senate's recent approval of the House-passed clean debt limit legislation, now might be a good time to define the debt ceiling (aka “debt limit”). The U.S. Treasury defines the debt limit as “the total amount of money that the United States government is authorized to borrow to meet...

Northeast regional chief investment officer at Wells Fargo Private Bank Darrell Cronk and Royal Bank of Scotland chief U.S. economist Michelle Girard discussed how the government shutdown is likely to effect equities moving forward on CNBC's Squawk Box Tuesday morning.  "I think another big thing...