budget deficits

Yellen warns of ‘global financial crisis’ if US debt limit agreement isn’t reached

CNN — Treasury Secretary Janet Yellen on Friday warned of the widespread global effects that could be felt if the federal government exhausts extraordinary measures and fails to raise the debt ceiling, telling CNN’s Christiane Amanpour about the ways everyday Americans could face stark consequences. Yellen’s warning comes after the United States on Thursday hit …

Yellen warns of ‘global financial crisis’ if US debt limit agreement isn’t reached Read More »

Markets: Bad news for the economy is now bad news on Wall Street

New York CNN — The market is bracing for a perfect storm of bad news. The latest worry? The impending debt ceiling drama in Washington. The United States hit its borrowing cap on Thursday, forcing the Treasury Department to start taking “extraordinary measures” to keep the government open. If an agreement isn’t reached, markets could …

Markets: Bad news for the economy is now bad news on Wall Street Read More »

US hits debt ceiling, prompting the Treasury to take extraordinary measures

CNN — The US hit the debt ceiling set by Congress on Thursday, forcing the Treasury Department to start taking extraordinary measures to keep the government paying its bills and escalating pressure on Capitol Hill to avoid a catastrophic default. The battle lines for the high-stakes fight have already been set. Hardline Republicans, who have …

US hits debt ceiling, prompting the Treasury to take extraordinary measures Read More »

Analysis: Every American could feel the pain of Washington’s debt ceiling showdown

CNN — Every American could get hurt if the new hardline Republican House’s dangerous game of roulette with a still vulnerable economy backfires. The nation reaches a first, critical threshold Thursday in the brewing Washington showdown over the national debt that could define the tenure of the new GOP majority and the final two years …

Analysis: Every American could feel the pain of Washington’s debt ceiling showdown Read More »

Premarket stocks: The world has a major debt problem. Is a reset coming?

A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up righthere. You can listen to an audio version of the newsletter by clicking the same link. New York CNN — The world is indebted. A record amount of debt. Three hundred trillion dollars, to …

Premarket stocks: The world has a major debt problem. Is a reset coming? Read More »

Debt ceiling: Treasury warned it would take ‘extraordinary measures’ because of the debt limit. Here’s what that means

CNN — Treasury Secretary Janet Yellen formally put Congress on notice last week that the agency will have to start taking “extraordinary measures” after the US reaches its $31.4 trillion debt limit on Thursday. But the nation is not yet at the debt ceiling crisis point that could tank the financial markets, suspend Social Security …

Debt ceiling: Treasury warned it would take ‘extraordinary measures’ because of the debt limit. Here’s what that means Read More »

secretary warns US Treasury could default on its debt as soon as June

CNN — The Treasury Department said Friday the US could default on its debt as soon as June, setting up one of the first major battles on Capitol Hill after Republicans took control of the House. The US will reach the debt limit on January 19 and then “extraordinary measures” will need to be taken, …

secretary warns US Treasury could default on its debt as soon as June Read More »

US could see a fight over debt ceiling that rocks markets, Goldman Sachs warns

New York CNN Business — Republicans and Democrats are likely to clash next year over the debt ceiling, a fight that could rock financial markets, unnerve consumers and threaten the economy with the specter of a calamitous default. The looming debt limit battle in Washington could spark the most uncertainty since the 2011 brinksmanship that …

US could see a fight over debt ceiling that rocks markets, Goldman Sachs warns Read More »