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New study: debt limit deadline likely extended

Money - WC

The likely deadline for Congress to prevent the government's first default will be later than earlier thought, a Washington think tank has found. The Bipartisan Policy Center said Friday that the government probably won't reach the brink of default until early September or early October. It had previously said default would come in July or August.

 

Banks preparing in case of goverment shutdown

Banks preparing in case of goverment shutdown

Financial institutions across the country have begun preparing for a worst-case scenario if Congress fails to raise the nation’s borrowing limit, assembling plans to offer customers emergency loans or waive fees if their federal pay or benefits checks do not arrive on time. Navy Federal Credit Union, the largest in the country, said this week it would advance pay to direct-deposit members who are active-duty military or civilian employees of the Defense Department. It also said it would expedite approvals for lines of credit, overdraft programs and higher credit card limits.

 

Rival plans ensnarl Congress over debt ceiling

Rival plans ensnarl Congress over debt ceiling

Rival Democratic and Republican plans to raise the government's borrowing ability have thrust Congress into a standoff just one week away from a potentially devastating debt crisis.

 

Boehner breaks off debt limit talks with Obama

Boehner breaks off debt limit talks with Obama

House of Representatives Speaker John Boehner broke off talks with President Barack Obama on Friday and said he will begin negotiations with Senate leaders aimed at meeting an August 2 deadline to avert an unprecedented U.S. debt default.

 

FAA shutdown would cost gov't $200 million a week

FAA shutdown would cost gov't $200 million a week

The government will lose about $200 million a week in airline ticket taxes if the Federal Aviation Administration is forced to shut down.

Senh: Good for passengers. No taxes on tickets!

 

Both Sides Confident on Deficit Talks Despite Impasse

Both Sides Confident on Deficit Talks Despite Impasse

Top Republican lawmakers and the Obama administration’s budget director both predicted Sunday that an agreement would be reached before the federal government defaults on its debt in early August, but both sides continued to squabble over the details of competing proposals, offering little evidence that a deal was at hand.

 

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