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What default? Republicans downplay impact of debt limitThe Obama administration says a US default would be "catastrophic." Economists say it could plunge the country into recession and prompt a global financial meltdown. To many Republicans, however, the More… |
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US enters 2nd week in budget, debt limit battleAs the US government moved into the second week of a shutdown on Monday with no end in sight, a deadlocked US Congress also confronted an October 17 deadline to increase the nation's borrowing power or risk default. The last b More… |
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US dipping into pensions as debt limit hitUS Treasury Secretary Timothy Geithner told Congress he would start tapping into federal pension funds on Monday to free up borrowing capacity as the nation hits the $14.294 trillion legal limit on its debt. The US Treasury will issue $72 More… |
