Tag: debt limit
But my bet is that, even in the worst case, Congress would find a workaround! The recent congressional action to raise the debt ceiling is a welcome reprieve, but the issue is expected to reemerge in early December. During the recent debate, Treasury Secretary Janet Yellen highlighted some of the potential consequences of a failur…
Future retirees will pay with lower Social Security and Medicare benefits. Most people think that the budget deal between congressional leaders is a positive development. One’s assessment depends critically on “compared to what.” Yes, it eliminated the threat of both an unprecedented default by the U.S. government on its debt and deep budget cuts that…