debt limit

David Wu of Oregon said he would step down following the resolution of the debt limit crisis in Washington.

"It would be nice to have it in a package form by the debt-limit" debate, said Senator Saxby Chambliss, a Republican of Georgia.

So, the debt limit is how much money a country can borrow.

It is possible that the debt limit may be breached temporarily if Congress does not act in a timely manner.

Mr Obama voted against raising the debt limit that day and will, no doubt, be reminded of this fact by Republicans in coming weeks.

Treasury has yet to face a situation in which it was unable to pay its obligations as a result of reaching the debt limit.

Republicans would not have to take an unpopular vote to raise the debt limit, a burden that would be left exclusively to Democrats.

Republican rhetoric to the contrary, a debt limit vote is not the appropriate place to make a stand about future budgets.

The Treasury Department has warned it will run out of money to cover the country's bills if Congress does not raise the debt limit by Aug.

Recent debt limit agreement was a wake-up call for people, predict this in the long term may worsen sharply.

The president said continuing uncertainty over the debt limit is one factor keeping businesses from hiring.

Democrats and Republicans have so far rejected each others' proposals for cutting spending and raising the debt limit.

Once he caves, members said, the debt limit will be raised and the credit scare will end.

He predicted many Democrats will refuse to back a debt limit raise if part of a deal includes cuts to entitlements.

The administration does not believe the debt limit should be used as a bargaining chip to extract concessions.

On the fiscal side, Republicans are demanding immediate spending cuts as the price of raising the debt limit and avoiding a U. S. default.

The U. S. Congress will have to agree to raise the country's statutory debt limit soon.

The ill-tempered struggle in Washington over raising the federal debt limit is enough to make anyone gloomy about the future of the US.

At the least, the debt limit should be lifted without harmful conditions.

In the House, Mr. Boehner said after the November elections that his new members would have to deal with the debt limit "as adults. "

U. S. Treasury Secretary Timothy Geithner says the stakes in the fight over the debt limit are very high.

Congress and the president must now turn their attention to issues like the budget for next year and the debt limit.

And the destructive debate surrounding the debt limit this summer has damaged the confidence of American businesses and consumers.

They say that any effort to increase the debt limit must be linked to deeper budget cuts.

What about the international shockwaves of a GOP push not to raise the debt limit?

Finally, the county government and debtors to negotiate debt limit extension request, Jefferson County is committed to future tax debt.

It is critical that Congress act to increase the debt limit so that the full faith and credit of the United States is protected.

Now, though, the same firms are wielding immense power as the deadline for raising the federal debt limit looms.

Finally, on March 29, eight months after Bob Rubin and I had first requested it, I signed a bill to increase the debt limit.

The biggest controversy in Washington this summer, however, has been over the federal budget and debt limit.

Under the possible compromise, the debt limit would rise by an initial $1 trillion.

When debt limit time comes, they're going to look around and say, 'What in the hell do we do now?

Most analysts expect Congress will ultimately lift the debt limit, as Treasury has requested, but not without a fight.

Republican House Speaker John Boehner is demanding major spending cuts in exchange for any agreement to raise the debt limit.

Democrats said they only wanted one that would extend the debt limit through the 2012 election year, a Democratic aide said.

Some scholars have suggested that the debt limit may violate the 14th amendment, leaving the president free to ignore it come August 2nd.

Republicans are threatening to reject Mr. Obama's request to raise the debt limit unless he agrees to bigger spending cuts.

Don't get carried away by the coming deal to raise the nation's debt limit and start reducing the nation's budget.

BEIJING: The world may still be debating the consequences of the US federal government's decision to raise the country's debt limit.

Democrats in the Senate and Republicans in the House of Representatives are formulating separate plans to raise the national debt limit.

That would be higher than the proposed rise in the debt limit, which an administration official said would amount to $2. 1tn.

Congress should raise the Debt Limit right now. Period. Then they should has out all the other issues along with the 2012 budget bill.

As The Economist went to press, it still was not clear on what terms America's debt limit would be raised, and for how long.

Now, the current debt limit plans Congress is considering would cut spending by a maximum of $3 trillion.

The debate over US fiscal policy is expected to intensify as the US hits its congressionally-mandated debt limit of $14, 300bn.

The debt limit is the amount of money that the government is permitted to borrow.

In about a month, if nothing is done, the federal government will hit its legal debt limit.

The debt limit, when it comes in April or May, will prove who's a hero and who's a jerk and who's a charlatan.

But by early August the federal government will bang up against a debt limit imposed by Congress.

Markets have been through this before, and are accustomed to some political rhetoric before a debt-limit increase is approved.

The analysis is being circulated on Capitol Hill by supporters of raising the debt limit.

Many lawmakers refused to raise the debt limit without deficit cuts.

US bond yields and the dollar hardly moved on Monday after the latest breakdown in talks on raising the country's debt limit.

And traditionally the debt limit has been treated as a minor detail.

Congressional leaders agreed on a deal late yesterday to raise the country's $14. 3 trillion debt limit and slash government spending.

What Republicans seem unwilling to acknowledge is that the debt-limit debate is not about future spending.

As we consider the debt limit we want to attach spending cuts and spending controls to it.

In return, Congress raised the government's debt limit. But that deal failed to prevent a reduction in the nation's credit rating.

Raising the debt limit is absolutely necessary, given the risks to markets and confidence in our political system of not doing so.

The IMF analysis doesn't predict that hitting the debt limit necessarily implies a market reaction.

The debt limit was raised seven times under Bush with little fanfare.

The current debt limit is $12, 104bn, a figure set in February as part of the stimulus package.

Each country will have a debt limit that is partly a function of its own history of fiscal consolidation.

The euro zone as a whole has never met the 60% debt limit.

Now, Mr. Obama was right about the dangers of failing to raise the debt limit.

This doesn't mean the debt limit is definitely going up, though, it still has to get through the House of Representatives.

Can the Treasury delay reaching the debt limit?

The first is the $12. 1 trillion federal debt limit, which will soon be reached unless Congress agrees to lift it.

The United States has raised the debt limit 78 times since 1960.

Researchers at the Library of Congress say Congress passed the first debt-limit law in nineteen seventeen.

The debt limit has been raised ten times over the past decade.

The debt limit and cut spending between $2 trillion and $3 trillion.

On August 2, the U. S. Senate voted 74 to 26 to raise the debt limit.

One peculiarity of the debt limit is that it applies to the gross federal debt, much of which is held by the government itself.

The government is expected to breach its debt limit between April 15 and May 31 and needs a reprieve from fiscal hawks in Congress.

Treasury Secretary Tim Geithner says the government has officially reached its limit, its $16. 394 debt limit.

The government is expected to hit its debt limit next month.

The Senate vote would've raise the country's debt limit by $1. 9 trillion.

Researchers at the Library of Congress say Congress passed the first debt-limit law in 1917.

President Obama will make an address on the debt limit at 9 p. m. EDT.

Imagine that one day soon, the borrowing slams up against the current debt limit ceiling of $14. 3 trillion and Congress fails to raise it.

Negotiations focus on $1, 000bn-$2, 000bn of reduction over 10 years, against an August 2 deadline on the debt limit.

US president refuses to rule out tax rises for wealthiest Americans as he signs debt limit bill into law

Economics Report - Debt Limit Talks Show Deeper Debate on Government's Duties

Obama announces deal on US debt limit

Congress has voted to raise the US debt limit 10 times since 2001