debt ceiling

Economist Craig Shapiro argues that the debt ceiling, a mechanism only used by the U.S. and Denmark, fails to curb excessive government spending and instead creates political theater every few years. What Happened: Shapiro, who is a macro strategist at the Bear Traps Report highlights the Federal...

Janet Yellen, the U.S. Treasury Secretary, on Friday cautioned that the government will reach its borrowing limit on Tuesday, necessitating the use of “extraordinary measures” to prevent a potential default. What Happened: Yellen revealed that the Treasury will commence the...

U.S. Treasury Secretary Janet L Yellen reportedly said on Friday that the government has less than three weeks to raise its debt limit. What Happened: Unless the government raises its debt limit, it will need to take  "extraordinary measures" to sustain federal operations starting between Jan...

The debt ceiling has become a central point of contention in Washington this week, disrupting year-end government funding talks that were resolved early Saturday. What Happened: President-elect Donald Trump has called for either raising or completely eliminating the borrowing limit, a move that...

A Republican Congressman expressed his concern over the Joe Biden administration’s excessive spending, highlighting the threat it poses to the country’s fiscal stability.  What Happened:  “I have come to the conclusion that an economic catastrophe...

The alarming rise in the U.S. debt has been a hot topic of discussion recently and the rapid pace in which the country is saddling debt has shocked none other than Tesla CEO Elon Musk. What Happened: The U.S. debt surpassed $33 trillion for the first time recently and 48 hours after the level was...

The cost of managing U.S. government debt has seen a significant rise of 25% in the first nine months of the fiscal year, hitting $652 billion and consequently exacerbating the federal deficit. The federal deficit reached a staggering $1.39 trillion for the nine months through June, according to...

Goldman Sachs (NYSE: GS) has revised its estimate about the U.S. economy's chance of entering a recession over the next 12 months. The investment bank has reduced its judging probability from 35% to 25%, stating two major reasons for this change. Jan Hatzius, Goldman Sachs' chief...

A mystery trader is reportedly sitting on significant gains on an options bet regarding a 300-mile natural gas pipeline that was green-lit by the United States government as part of the debt ceiling agreement. Interestingly, the gas pipeline approval surprised most Wall Street analysts, many of...

On Saturday, President Joe Biden signed a bill that extends the debt ceiling for two years, preventing an economically damaging debt default before the pending Monday deadline. The Fiscal Responsibility Act of 2023, negotiated with House Speaker Kevin McCarthy, sets a two-year federal spending...

In his first public address from the Oval Office last night, President Joe Biden praised House Speaker Kevin McCarthy for the debt-ceiling agreement Congress successfully passed earlier in the week. During his remarks, Biden said, "I want to commend Speaker McCarthy. You know, he and I...

In a rare display of bipartisanship, President Joe Biden praised Republican House Speaker Kevin McCarthy on Friday for reaching a consensus on the debt ceiling deal. What Happened: Biden, in his prime time remarks from the Oval Office, said, "I want to commend Speaker McCarthy. You know, he and I...

The Dow Jones Industrial Average recorded its strongest single-day performance of the year on Friday, surging 701 points on the back of an encouraging jobs report and the successful passage of a bill to raise the debt ceiling. The S&P 500 rose by 1.5% on Friday, while the Nasdaq Composite...

Despite the resolution of the debt ceiling standoff allowing the U.S. government to meet its obligations, Fitch Ratings has chosen to maintain its "Rating Watch Negative" stance on the U.S. rating, according to a statement released by the credit rating agency on Friday. The suspension of...

President Joe Biden is set to sign legislation suspending the debt ceiling and limiting federal spending as early as Saturday, preventing a U.S. government default. Biden will deliver remarks from the Oval Office at 7 p.m. Eastern time Friday, according to The Washington Post. White House Press...