America's permanent partisan war for now shifts exclusively to the campaign trail. Here's what you need to pay attention to.» Read More
What neither institution has yet done is clearly explain to the financial community what it will do if there is no debt ceiling deal by August 2, or US Treasury bonds are downgraded, Gillian Tett write in the FT.
Author Adam Mansbach said what every parent was thinking, "Hey, kids: 'Go the F— to Sleep.'" Now, one TV anchor is saying what most of America has been thinking: "Hey, Congress: 'Go the F— to Sleep!'"
The nation's health care tab is on track to hit $4.6 trillion in 2020, accounting for about $1 of every $5 in the economy, government number crunchers estimate in a report out Thursday.
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In the very unlikely event that the United States defaults on its debt obligations, the country's economy would contract by 5 percent and stocks would fall by nearly a third, according to Credit Suisse.
When "the dollar is the reserve currency underpinning the system, waking up to discover that U.S. debt may not be AAA after all is surely a market event,” says an analyst at one European bank.
With the clock ticking in Washington DC and Congress desperately trying to find an agreement on raising the debt ceiling, the greenback is heading towards levels last seen in the fall of 2008, when it reached its lowest point over the past 10 years.
Other than a short rally today, the dollar's been taking it on the chin as Washington squabbles. Here's how to trade it.
Even a debt deal may not prevent a rating cut for U.S. debt. Here's what it would mean for the dollar, and what you can do.
Last night, I spoke with David Beers, head of S&P's sovereign debt rating committee on CNBC’s Kudlow Report. He made it very clear: the U.S. must take steps to lower its debt/GDP trend over the long run.
As the high risk-game of chicken over raising the US debt ceiling draws closer to possible economic collision, one economist is warning that any deal that wins approval from the right-wing Tea Party movement will pass neither the Senate nor the president.
I know I’m supposed to be all freaked out about the nation reaching its debt limit and our credit being downgraded and we’ll stop paying some bills. But I live in California. This is normal. Daily panic and doomsday scenarios over government finances started here. Political gridlock, kicking the can down the road…that’s how we roll.
It's this quartet who will have to draw on their experience, skill and charm to find the deal and the votes to pass it for averting an unprecedented government default next week..
Feeling obligated to watch the President I tuned in for a classic "not my fault but his fault" game of dodge-responsibility. Speaker Boehner wasn't any better. I got mad watching the politicians be politicians and I got Lola Jane mad by turning off Dora.
Worries about the debt ceiling derail the dollar, and kiwis fall after trade data disappoints - it's time for your daily FX Fix.
The big sticking points between the House GOP leadership and Sen. Harry Reid’s latest plan are 1) the House wants two debt increases, one this year and one next year (Reid has just one increase) and 2) the House Republicans want a guaranteed balanced-budget-amendment vote.
The weekend ended with no deal on the debt ceiling. As I wrote last week, there are at least five reasons why the debt ceiling may not get raised. As we head into this week, the common wisdom remains that the debt ceiling will be raised one way or another. But will it?
Deadlocked debt-ceiling talks dent the dollar and send the Swissie soaring - it's time for your daily FX Fix.
White House officials and Republican leaders scrambled on Sunday to reassure global markets the United States would avert a debt default but the two sides gave no sign they were moving closer to a deal.