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Tag Archives: debt ceiling

Debt Deal Done, What Now for Fed Workers?

After much debate, legislation to raise the debt ceiling and cut spending passed through Congress Tuesday and was signed by President Barack Obama right away. The legislation contains no measures targeting federal employees. However, Government Executive reports groups representing federal employees know pay and benefits will be targeted soon. The …

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Treasury: It’s Business as Usual

Assuming Congress passes the debt ceiling increase Tuesday, the Treasury announced Monday it plans to borrow $331 billion in the current quarter. Reuters reports the Treasury is proceeding as if the debt ceiling increase will be passed and signed by President Barack Obama. The Treasury has said it would not …

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President, Congressional Leaders Reach Debt Limit Deal

President Obama and Congressional leaders agreed Sunday night to raise the federal debt limit, with one day left before the Treasury said it would start being unable to meet government obligations. Obama announced the deal Sunday night in a televised statement from the White House briefing room. The deal raises …

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Bill Would Protect Military Pay if Govt. Defaults

House lawmakers introduced a bill Wednesday that ensures military personnel will still be paid even if the federal government defaults, GovExec reports. Rep. Steve King (R-IA), a co-sponsor, introduced H.R. 2496, the “PROMISES (Payment Reliability for our Obligations to Military and Investors to Secure Essential Stability) Act” to prevent interruption …

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House Approves Debt Reduction Bill

The House of Representatives passed a Republican-backed plan Tuesday to extend the country’s borrowing capacity in return for a future cap on government spending and a balanced budget amendment, the LA Times reports. The “Cut, Cap and Balance” proposal, largely symbolic, was voted on to give voice to conservative Republicans …

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5 Things You Should Know about the Debt Ceiling

The federal government’s debt has never been more of a hot-button issue than it is now. After threatened government shutdowns and continued wrangling over the deficit, the current political fight hinges on the debt ceiling, a provision of a nearly century-old law that allows Congress to set the allowable limit …

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