Over the past 60 years, US Congress has raised the debt ceiling 78 times. For most of this period, raising the debt ceiling was a non-event. But over the past decade or so every time the US government reaches its debt ceiling, a drama of global proportions unfolds. Republicans and Democ...
in Chinese property developer Sunac China soared over 25 percent today after announcing last night that each of the company's restructuring conditions has been satisfied and the debt restructuring plan can now commence. According to the announcement, a total of about $10.23 billion of debt has ...
(ECNS) -- After months of partisan arm-wrestling, the US Congress approved the bill to raise America's debt ceiling after the Senate's passage late Thursday. The two parties in the United States engaged in a last-minute tug-of-war over the US debt "bomb," which reached a critical ...
debt ceiling rekindled debate in Congress over funding for Ukraine, as House of Representatives Speaker Kevin McCarthy said on Tuesday he had no immediate plans to take up legislation to boost defense spending beyond what was in last week's deal. McCarthy's comments could signal a tougher ...
In contrast, the US administration will find it is increasingly pressured by the piling up of national debt, which is like a ticking time bomb. Time is not on the US' side, it is already finding it difficult to pay the interest payments on more than $36 trillion.China is willing to ...
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The Congressional Budget Office projects the federal debt will exceed the economy's size by the end of the year and will balloon to 202% of gross domestic product over the next 30 years. And that's their outlook without factoring in President Joe Biden's$1.9 trillion COVID-19 relief packag...
We’re adding $4 trillion of debt over the next two years, there’s no cap on the debt limit itself, on the debt ceiling, and you know, we’re expanding and growing government welfare. That’s what happened tonight.” 10:51 a.m. 13:30:33, June 1, 2023 Conservatives in the ...
Last year, Congress approved $80 billion in new funding for the Internal Revenue Service — but the bipartisan debt ceiling deal would claw some of that money back. If the deal passes Congress, the IRS may see only about $60 billion of those funds over a 10-year period. The money, ...
However, we expect the number of deportations to be about 15% higher than the average seen over the last five years. In this scenario, individuals and businesses front-load some trade activity early in 2025 to avoid tariffs; as tariffs take effect, trade slows later this year and into next...