Debt Limit

3:57am

Sun July 29, 2012
Politics

Forget The Debt Ceiling? The 'Avalanche' Is Coming

Originally published on Thu August 2, 2012 12:21 pm

If Congress doesn't make a deal before January, massive spending cuts will go into effect automatically in 2013.
iStockphoto.com

In August, lawmakers will be heading home to their districts for the month's recess. Last summer, things weren't quite so calm.

A year ago at this time, Congress was in a nasty and protracted battle over whether to raise the debt ceiling. If they didn't make a decision, the government was going to go into default. It's a fight that cost Congress its already waning public support, and cost American taxpayers $1.3 billion.

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1:04am

Tue May 29, 2012
It's All Politics

Dire Predictions Amid Another Looming Fiscal Battle

Originally published on Tue May 29, 2012 9:27 am

There are growing warnings on Capitol Hill that the nation could be rolling toward an end-of-the-year fiscal train wreck.

"The looming tax hike will be absolutely devastating," Senate Minority Leader Mitch McConnell, R-Ky., said.

"You can call this a fiscal cliff. You can call it 'Taxmageddon' as others have done. Whatever you call it, it will be a disaster for the middle class," Sen. Orrin Hatch, R-Utah, added.

And Sen. Ben Nelson, D-Neb., said: "It's a tsunami; there's no question about it, and it's coming."

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2:59pm

Wed May 23, 2012
Politics

Remember The Debt Ceiling Debate? It's Back

Originally published on Wed May 23, 2012 5:22 pm

House Speaker John Boehner, R-Ohio, speaks at the 2012 Fiscal Summit held by the Peter G. Peterson Foundation on May 15 in Washington, D.C.
Brendan Hoffman Getty Images

A storm is brewing in Washington that could darken political debate for months to come. It's about the debt, the deficit, taxes and spending — all hot topics lawmakers have been fighting about for years now.

This time, though, there's a deadline, and the consequences of inaction would be immediate. That has many in Washington saying: Here we go again.

In the past week, President Obama and House Speaker John Boehner have begun a new round of sparring over the U.S. debt ceiling.

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4:20pm

Wed May 16, 2012
It's All Politics

White House Sandwiches Followed By Snark, Disappointment, Warnings

Originally published on Wed May 16, 2012 4:44 pm

President Obama's limo in what was, in part, the world's most impressive lunch run, Washington, May 16, 2012.
Pablo Martinez Monsivais AP

President Obama and congressional leaders lunched at the White House Wednesday on sandwiches the leader of the free world purchased during a visit to a Washington, D.C., eatery where he met earlier in the morning with a group of small-business people.

Descriptions of the White House lunch meeting from those on the opposing red and blue teams aware of the details of the discussion made it sound like yet another meeting featuring the nation's top policymakers that you could have accurately described beforehand.

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3:23am

Wed May 16, 2012
Economy

Debt Ceiling Debate Is Revived In Washington

Originally published on Wed May 16, 2012 4:47 am

Transcript

STEVE INSKEEP, HOST:

It's MORNING EDITION, from NPR News. Good morning. I'm Steve Inskeep.

DAVID GREENE, HOST:

And I'm David Greene.

If you thought the two political parties had moved past their differences over the debt ceiling, think again.

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