debt
Democrats are aiming for a debt-limit compromise similar to the House Republican plan, with at least one major difference: The second vote on raising the debt ceiling would not depend on Congress passing a broader deficit-reduction package. [1]
The focus switched to smaller measures, as Mr. Boehner and Mr. Reid prepared dueling last-minute measures that combined spending cuts with a debt limit increase. [2]
Rep. James Clyburn and a group of House Democrats are urging President Barack Obama to invoke the 14th Amendment to raise the debt ceiling if Congress can’t come up with a satisfactory plan before the Tuesday deadline. [3]
If you or someone you know is in financial hot water, consider these options: realistic budgeting, credit counseling from a reputable organization, debt consolidation, or bankruptcy. [4]
World Bank President Robert Zoellick on Friday said the United States was playing with fire. [5]
In July, President Obama pushed for a sweeping $4 trillion deficit-reduction deal that would include reductions in Social Security, Medicare and Medicaid as well as changes to plug tax loopholes. [...] But the talks collapsed in June, as Republicans rebuffed Democratic insistence that a deal include revenue increases as well as spending cuts. [2]
Red lines indicate the Debt Held by the Public (net public debt) and black lines indicate the Total Public Debt Outstanding (gross public debt), the difference being that the gross debt includes that held by the federal government itself. [6]
With time running short ahead of a Tuesday deadline to raise the debt ceiling, the Republican-controlled House pushed the deficit-cutting plan through by a vote of 218-to-210 after the party’s leaders reworked the bill to appease anti-tax conservatives in their ranks. [5]
The House Republican leader, Speaker John A. Boehner, expressed interest, but quickly backtracked in the face of protests from conservatives opposed to tax increases. [2]
Republicans applauded loudly and Democrats hissed. [5]
Then, list your “fixed” expenses - those that are the same each month - like mortgage payments or rent, car payments, and insurance premiums. [4]
Debt consolidation program gives them a way out by which they can replace multiple bills with one low monthly payment and pay off debt with ease. [7]
House Speaker John Boehner’s failure on Thursday to quell a rebellion among Tea Party-affiliated conservatives in his party and bring his proposal to a vote exposed a rift among Republicans that complicated efforts to reach a compromise. [...] Facebook helps you connect and share with the people in your life. [5]
Sources:
[1] Debt deal compromise suggested by Democrats
[2] Federal Debt Ceiling - The New York Times
[3] Obama urged to invoke 14th Amendment as debt ceiling deadline nears
[4] Knee Deep in Debt
[5] House Republican debt limit bill nears passage
[6] United States public debt - Wikipedia, the free encyclopedia
[7] Debt Consolidation Care - Social network of debt free people