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Debt ceiling

Raising the Debt Ceiling

What's really behind concerns about government overspending?

by David Brancaccio , Ariana Rosas and Jarrett Dang
Feb 9, 2023
The current debt ceiling fight reflects old concerns about government debt, says economist Michael Boskin.
House Speaker Kevin McCarthy, above, is a player in the debt ceiling issue. Economist Michael Boskin, who led the Council of Economic Advisers under the first President Bush, says the current debt battle reflects concerns about excessive government spending.
Drew Angerer/Getty Images
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What would it take to balance the federal budget?

by Kai Ryssdal and Sarah Leeson
Feb 8, 2023
You need the courage to make cuts, the wisdom to negotiate and luck, says Linda Bilmes, who worked in the Clinton administration.
In the last half-century, only two presidents have balanced the federal budget: Lyndon Johnson and Bill Clinton, above with Vice President Al Gore.
Paul J. Richards/AFP via Getty Images
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Raising the Debt Ceiling

Breaking down the $31.4 trillion national debt

by Kai Ryssdal and Maria Hollenhorst
Jan 27, 2023
There are public holders and government agencies, which all comes into play in the congressional debt ceiling battle.
The national debt is made up of two big pieces — intragovernmental holdings and IOUs held by the public. Above, the U.S. Capitol dome seen through a glass ceiling.
Drew Angerer/Getty Images
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Raising the Debt Ceiling

The origin of the U.S. debt ceiling

by Kai Ryssdal and Maria Hollenhorst
Jan 19, 2023
The U.S. government hit its debt ceiling Thursday and must raise the debt limit to avoid defaulting. How did we get here?
With the debt ceiling reached, the U.S. Treasury initiated "extraordinary measures" to avert a government default.
Anna Moneymaker/Getty Images
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The economic legacy of the Jan. 6 insurrection is "intertwined" with the pandemic

by Kai Ryssdal and Sean McHenry
Jan 6, 2022
“So much is good about the recovery,” said Wendy Edelberg of the Brookings Institution. Yet “we’re still in the midst of chaos.”
Protesters loyal to Donald Trump at the U.S. Capitol building on Jan. 6, 2021. The nation's political instability, said Wendy Edelberg of Brookings, "makes me nervous for the year ahead."
Tasos Katopodis/Getty Images
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I've Always Wondered ...

When was the last time we paid down the national debt?

by Janet Nguyen
Dec 2, 2021
The U.S. owes almost $29 trillion.
The U.S. Capitol building in Washington. Congress is discussing what to do about the federal debt limit, again.
Jim Watson/AFP via Getty Images
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Raising the Debt Ceiling

The origin of the U.S. debt ceiling

by Kai Ryssdal and Maria Hollenhorst
Nov 2, 2021
Congress is once again considering raising the debt limit. When did that start?
A sign at a Washington, D.C., bus stop showed the amount of the national debt on Oct. 25. The clock is ticking on another debt ceiling agreement to prevent a default.
Julie Chabanas/AFP via Getty Images
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Raising the Debt Ceiling

Schumer: Agreement reached on short-term debt ceiling fix

by Associated Press
Oct 7, 2021
Congress will be revisiting this issue in December.
A view of the U.S. Capitol at dawn on Wednesday morning October 6, 2021 in Washington, DC.
Drew Angerer/Getty Images
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Can a platinum coin solve the debt-ceiling standoff?

by Matt Levin
Oct 7, 2021
A legal loophole could let The Treasury Department mint the money it needs to run the government
The logo of the US Treasury Department is seen on the outside of the Treasury building in Washington on August 19, 2011.
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Raising the Debt Ceiling

What happens if we crash through the debt ceiling?

by Nancy Marshall-Genzer
Oct 4, 2021
The Fed could buy defaulted Treasuries or swap Treasury bonds that weren’t in default for those that were.
Federal Reserve Chair Jerome Powell speaks at a House hearing Thursday. Although the central bank has prepared for potential government defaults before, Powell warned lawmakers of the limits of the Fed's response.
Al Drago-Pool via Getty Images
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