debt ceiling

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Fitch Threatens Downgrade If Debt Deal Is Too Weak

Meanwhile, Pat Toomey introduces backup bill

(Newser) - The US credit rating is once again in danger thanks to a debt ceiling showdown. Fitch today announced that it may downgrade the US even if lawmakers manage to strike a deal, CNN Money reports. Fitch already has a negative outlook on the US' AAA rating, and said that would...

Obama: No 'Magic Tricks' for Debt Ceiling

President rules out executive debt ceiling fix

(Newser) - Looks like President Obama really doesn't have a trillion-dollar coin up his sleeve—or any other crafty debt ceiling fix. At what he billed as the last press conference of his first term today, Obama was asked if he'd consider executive action—possibly invoking the 14th amendment—to...

Majority of House GOP Totally Cool With Defaulting

Even more are OK with government shutdown: sources

(Newser) - More than half of House Republicans are OK with a government default if President Obama won't accept their budget-cut demands, party officials tell Politico . Even more GOP lawmakers are willing to allow a government shutdown come March 27. Taking the shutdown route would help ensure "President Obama understands...

Treasury: Forget About That $1T Platinum Coin

Treasury won't make it and Fed won't accept it

(Newser) - The $1 trillion platinum coin being touted as a bizarre solution to the debt ceiling debate will only ever exist as an illustration of just how dysfunctional Washington has become. A Treasury official tells the Washington Post that the department has no intention of minting such a coin to get...

Democrats to Obama: Skip Congress on Debt Ceiling

Reid, others say he should do so if Republicans won't budge

(Newser) - Senate Democrats have a suggestion for President Obama if House Republicans refuse to raise the debt ceiling to pay the nation's bills: Obama should circumvent Congress and raise the ceiling himself, reports the Hill . An excerpt of a letter from Harry Reid and other Democrats to the White House:...

Hurry, Mint That Platinum Coin
 Hurry, Mint That Platinum Coin 
Paul krugman
Jan 11, 2013 1:21 PM CST

Hurry, Mint That Platinum Coin

Paul Krugman: It's kind of a joke, but so is the current predicament

(Newser) - Despite facing plenty of blowback from wags, wonks, and politicos over the past week—such as Ezra Klein in the Washington Post —Paul Krugman is continuing his push for the $1 trillion platinum coin option to bypass the looming debt ceiling debate. ( Here's a summary of how...

Quick Debt Ceiling Fix: $1T Coin
 Quick Debt 
 Ceiling Fix: 
 $1T Coin 
paul krugman
Jan 7, 2013 12:33 PM CST

Quick Debt Ceiling Fix: $1T Coin

Or, Obama could just raise limit himself

(Newser) - Think the whole debt-ceiling debate is silly? Paul Krugman does, too, and he's been pushing an admittedly "silly" way out of it. A legal loophole intended for making commemorative coins, he writes in the New York Times , could come in handy: Thanks to the rule, the US Treasury...

Boehner: Why I Threw F-Bomb at Harry Reid

More WSJ goodies: 'I need this job like I need a hole in head'

(Newser) - John Boehner didn't seem to hold much back during his hour-long interview with Stephen Moore for the Wall Street Journal , which took place just after Boehner was re-elected House speaker . "I need this job like I need a hole in the head," the chain-smoking congressman says at...

Boehner Forgives 12 GOP Defectors
Boehner
Forgives
12 GOP
Defectors
Jan 5, 2013 11:24 AM CST

Boehner Forgives 12 GOP Defectors

'I don't hold grudges,' says speaker

(Newser) - The dozen Republican members of Congress who gave John Boehner a public rebuke this week don't have to worry about payback, he says. "I'm not a retribution kind of guy," he told a closed-door conference meeting yesterday, reports the Hill . "I don't hold grudges....

Next Up: Debt Ceiling Showdown

But can you have a showdown if Obama refuses to show up?

(Newser) - President Obama signed the fiscal cliff tax deal last night, and you know what that means: Time for the debt ceiling fight! Technically, the government has already reached its $16.4 trillion borrowing limit, and is relying on "extraordinary measures" to get by. By the end of next month,...

Obama Praises Cliff Deal, Resumes Hawaii Vacation

He thanks Biden, congressional leaders

(Newser) - President Obama flew off to resume his family vacation in Hawaii minutes after delivering remarks praising the House and Senate for passing the fiscal cliff deal , the New York Times reports. In his remarks, Obama praised the work of congressional leaders and his "extraordinary Vice President Joe Biden" and...

Bad News: 2013 Will Suck
 Bad News: 2013 Will Suck 
OPINION
Jan 1, 2013 1:53 PM CST

Bad News: 2013 Will Suck

Alex Pareene not too hopeful about the year ahead

(Newser) - If you woke up energized by the promise of a new year, Alex Pareene is ready to burst your bubble. While he's quite pleased that the days of 2012 are dead and gone, he has no hope for a stellar 2013, at least when it comes to politics. He...

Watch Out: More Fiscal Cliffs Ahead

If the House passes the Senate's bill, it's not all smooth sailing ahead

(Newser) - If you think you'll be done hearing about the fiscal cliff or anything like it should the House pass the Senate's cliff deal , CNNMoney has bad news for you: "three more cliff-like deadlines" loom in the first quarter. That's because the bill doesn't touch the...

Geithner: US Will Reach Debt Ceiling on Monday

Treasury secretary prepares 'emergency measures'

(Newser) - The federal government will hit the debt ceiling on Monday, Timothy Geithner informed Congress today—so he's readying "emergency measures" to keep Washington from borrowing beyond its limit. Those measures will create roughly $200 billion in breathing room for the feds to operate, which would typically cover two...

Boehner's New Offer: No Fight Over Debt Ceiling

Dems see progress in fiscal-cliff negotiations

(Newser) - John Boehner has made another big offer in the fiscal-cliff debate : He's willing to delay any battle over the debt ceiling for a year. With a new debt-ceiling showdown expected in the coming months, Boehner's offer to let the ceiling rise means giving up a key bargaining chip...

Real Conservatives Should Be Livid&mdash;at Republicans
Real Conservatives Should Be Livid—at Republicans
andrew sullivan
Dec 13, 2012 1:19 PM CST

Real Conservatives Should Be Livid—at Republicans

Andrew Sullivan: GOP doesn't seem to respect our Constitution

(Newser) - Don't confuse the principles of conservatism with the principles—or lack thereof—of the current Republican party, writes Andrew Sullivan in the Daily Beast . In a scathing blog post, he calls the GOP's use of the debt ceiling as a negotiating tool "legislative terrorism" by a "...

Obama, Boehner Hold White House Face-to-Face

'We're not reading out details of the conversation'

(Newser) - Barack Obama and John Boehner rolled up their sleeves and personally dove into fiscal cliff talks today, meeting face-to-face at the White House for the first time in 23 days, Politico reports. Both sides issued identical statements on the meeting, saying, "We're not reading out details of the...

We Could Fix Debt Crisis With ... Platinum Coins?

Bizarrely, laws restrict issues of gold, silver, copper, but not platinum

(Newser) - President Obama says he is " not going to play that [debt ceiling] game " with Republicans again. But how to avoid disaster if Congress doesn't raise the ceiling? It turns out the president has one ridiculously simple solution as an option—platinum coins. Incredibly, there is no legal...

Obama on Debt Ceiling: 'We're Not Going to Play That Game'

President tries to convince Business Roundtable of the need to raise rates

(Newser) - President Obama is talking a little trash ahead of the fiscal cliff deadline: In remarks before the Business Roundtable today, the president insisted that he would not allow Republicans to use the debt ceiling for leverage in the fiscal cliff negotiations. "We're not going to play that game...

Changing Rules on Debt Ceiling Is a Genius Idea
Changing Rules on
Debt Ceiling Is a Genius Idea
OPINION
Nov 30, 2012 12:44 PM CST

Changing Rules on Debt Ceiling Is a Genius Idea

Matthew Yglesias: Last year's showdown set dangerous precedent

(Newser) - One of the proposals being floated by the White House in the fiscal cliff talks is to change the rules on the federal debt ceiling. The White House, any White House, would no longer need congressional approval to go above the ceiling. "It's a great idea,"...

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