The government now borrows about 42 cents of every dollar it spends. Imagine that one day soon, the borrowing slams up against the current debt limit ceiling of $14.3 trillion and Congress fails to raise it.
The U.S. is headed towards the next major budget battle between the Republicans and Democrats. On May 16th lawmakers will have to vote to raise the $14.3 trillion debt ceiling or risk a default by the world's largest economy.
We're all used to hearing about how municipal bonds almost never, ever default.
William Gross, PIMCO co-CIO & founder, with perspective on S&P's negative outlook on U.S. credit and what the downgrade means for the markets.
Standard & Poor's lowered its outlook on the United States, kiwis fell, and Finland is frightening euro traders. Time for your Monday morning FX Fix.
Here’s my nomination for the worst recommendation by the Senate panel on the financial crisis: the proposal for the Securities and Exchange Commission to rate credit ratings agencies based on their “accuracy.”
And no, it's not Goldman Sachs. But he thinks these stocks are a buy.
"The outlandish scenario of a US debt downgrade is no longer the stuff of finance fiction," says the head researcher at at SocGen.