Search results
Results from the WOW.Com Content Network
In January 2012, the U.S. debt hit the new limit of $15.194 trillion and the treasury began using extraordinary measures once again. The President requested the final increase, to $16.394 trillion. On January 18, 2012, the House passed a disapproval of the second debt limit increase by a vote of 239–176.
US debt ceiling at the end of each year from 1981 to 2010. The graph indicates which president and which political party controlled Congress each year. US debt from 1940 to 2010. Red lines indicate the Debt Held by the Public (net public debt) and black lines indicate the Total Public Debt Outstanding (gross public debt). The difference between ...
The National Commission on Fiscal Responsibility and Reform (often called Simpson–Bowles or Bowles–Simpson from the names of co-chairs Alan Simpson and Erskine Bowles; or NCFRR) was a bipartisan Presidential Commission on deficit reduction, [1] created in 2010 by President Barack Obama to identify "policies to improve the fiscal situation in the medium term and to achieve fiscal ...
The delay in raising the debt ceiling resulted in the first downgrade in the United States credit rating, a sharp drop in the stock market, and an increase in borrowing costs. Congress raised the debt limit with the Budget Control Act of 2011, which added to the fiscal cliff when the new ceiling was reached on December 31, 2012.
Loose US fiscal policy, in addition to increasing the country’s already hefty debt burden, could make “the last mile” of getting inflation back down to the Fed’s target harder to achieve ...
As of April 2023, the U.S. national debt has reached a record high of more than $31.5 trillion.. Clearly, the government's increasing debt is not a new trend. To see how it got to this point ...
August 21, 2023. On today’s episode of CNN 10, Hurricane Hilary slams into the West Coast. Then, a race for the lunar south pole. Coy Wire explains why scientists are so keen to explore its ...
On August 2, 2011, President Obama signed the Budget Control Act of 2011 as part of an agreement with Congress to resolve the debt-ceiling crisis.The Act provided for a Joint Select Committee on Deficit Reduction (the "super committee") to produce legislation by late November that would decrease the deficit by $1.2 trillion over ten years.