Fiscal conservatism has more or less vanished from America’s political landscape. Government borrowing, despite the strong economy, continues to push public debt to record levels – and the presidential contenders and their parties say scarcely a word about it. To the extent they discuss economic policy at all, their intentions on taxes and public spending … Read more
Washington: The United States needs to tackle the recurrence of debt limit standoffs and find “long-term” solutions for growing fiscal issues if it seeks a credit upgrade, a Fitch Ratings senior director said in an interview Wednesday. The comments by Richard Francis on CNBC came a day after Fitch took the United States’ top-tier AAA … Read more
WASHINGTON: U.S. President Joe Biden on Monday summoned the four top congressional leaders to the White House next week after the Treasury warned the government could run short of cash to pay its bills as soon as June. The U.S. Treasury said that it could run out of money to pay all of the government’s … Read more
US Republicans voted Wednesday to raise the national borrowing limit, but only in conjunction with drastic cuts, as they sought a showdown with President Joe Biden over “excessive” spending with a potentially ruinous credit default looming. The government is expecting to hit the debt ceiling within weeks, raising the possibility of the world’s largest economy … Read more