U.S. Fiscal Showdown
Lawmakers are scrambling to come to an agreement to boost the debt ceiling ahead of the October 17 deadline the Treasury Department has marked as the point it could run out of cash to pay America’s bills. FOX Business has all of the market-moving developments covered.
- Shutdown began Oct. 1
- Debt limit deadline ends on Oct. 17
- Treasury has $30B cash on hand to pay debts after Oct. 17
- At least 14 government data reports affected.
- Number of furloughed workers
- 800,000, with 300,000 Pentagon workers recalled to this point.
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President Obama said though the U.S. narrowly avoided a possible credit downgrade, partisan politics isn't the way to deal with fiscal differences.
Another credit downgrade would have further tarnished America's economic reputation and set off a scary ripple effect.
Forbes Media Chairman Steve Forbes on what is needed to avoid another debt ceiling crisis.
Almost a Done Deal: Senate leadership finalized details on a proposal to hike the debt limit and re-open the government, and the House has pledged not to block efforts to pass it in the Republican-...
Former Federal Reserve Vice Chairman Alan Blinder on the debt ceiling.
Threat Averted? Basically ignoring predictions, Wall Street traders appear to have bet right on the likelihood of an 11th hour U.S. debt deal.
Former House Majority Leader Tom DeLay, (R-Texas), on how the shutdown and debt ceiling negotiations should have been handled.
The private-equity giant released its own economic indicators that seek to mimic the government statistics being withheld by the shutdown.