The deal would raise the ceiling for two years, cap some federal spending and impose new work requirements on certain federal benefits. It still needs the blessing of Congress.
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House Speaker Kevin McCarthy agreed to raise the debt ceiling – and avoid an unprecedented US default – but only if Democrats agree to freeze spending and agree to several other demands.
Republicans and Democrats have negotiated a draft deal that may avert a financial crisis, but why does the US have a debt ceiling in the first place?
Dozens of prosperous countries save billions of dollars and hours annually by not requiring residents to fill out tax returns, so what is the United States waiting for?
Janet Yellen is the perfect choice to tackle the worst economic crisis in a century, and the problems that lie beyond.
Today’s coronavirus pandemic has echoes in the yellow fever pandemic of the 1790s. Then, as now, workers struggled with how to support themselves and their families. One federal agency had the answer.
The color of American money goes back to the British colonies.
Although US debt may be at eye-popping levels, an economist explains why it shouldn’t keep you up at night.
It’s been 10 years since the U.S. signed into law a scheme to print money, essentially, and save the financial sector amid the sub-prime mortgage meltdown. Did it work? And who’s truly benefitted?
Top contributors
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Part-Time Professor of Economics, The New School
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Professor of Economics, University of Georgia
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Daniel Patrick Moynihan Senior Lecturer in Public Policy and Public Finance, Harvard Kennedy School
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Professor of Public Policy (retired), University of Virginia
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Instructor of Business Management, University of Toronto
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Professor Emerita of Law, Vanderbilt University
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Distinguished Fellow in Law and Government, Dickinson Law, Penn State
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Ph.D. Student of History, American University
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Visiting Assistant Professor of History, St. Joseph's University
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Deputy Chair of Business Administration, Touro University
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Assistant Professor of Business Economics and Public Policy, University of Michigan
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Ph.D. Student in Public Policy, Harvard Kennedy School
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Professor of Economics, UNSW Sydney
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Associate Professor of Political Science, Northwestern University
