Posts Tagged ‘national debt’

It’s Groundhog Day Over the Debt Ceiling

If you recently heard the news that Congress is debating the merits of raising the debt ceiling, don’t think you have time-traveled back to 2011 or to 2012. In the absence of Congressional action, and barring some extraordinary measures, the debt ceiling is set to be breached sometime in the next several weeks, and the […]

Gloom or Doom from CBO

The Congressional Budget Office’s summer budget update charts two undesirable paths for the nation’s economic and fiscal health next year. Call them Gloom and Doom. Gloom is what happens if the tax increases and government spending cuts scheduled to arrive in January actually occur. CBO says that would drive the economy back into recession in […]