Originally published on Thu October 10, 2013 10:58 am
If Congress doesn't raise the debt ceiling soon, the U.S. government won't be able to pay its debts. Here's who the government owes money to β all the holders of U.S. Treasury debt, broken down by category and by how much government debt they hold.
Originally published on Thu October 10, 2013 9:02 am
Good morning, fellow political junkies. It's Day 10 of the federal government's partial shutdown. And while it's a dreary, rainy day in Washington, there did appear to be more glimmers of hope this morning than in recent days.
Today's theme is movement, as in, there seem to be some tentative steps towards resolving the current fiscal impasse as President Obama and House Republicans are scheduled to meet at the White House later Thursday.
What would happen if Congress doesn't raise the debt ceiling and the U.S. defaults on its debt later this month? The broad economic implications are unpredictable, but a default could cause huge trouble for the global economy.
But whatever happens to the global economy, one thing is clear: People all over the world who have loaned the U.S. government money won't get paid on time.
Originally published on Thu October 10, 2013 11:49 am
South of Florida's Lake Okeechobee, hundreds of thousands of acres of sugar cane thrive in the heart of one of the world's largest wetlands. The Everglades stretches from the tip of the peninsula to central Florida, north of Lake Okeechobee.
"The Everglades actually begins at Shingle Creek, outside of Orlando," says Jonathan Ullman of the Sierra Club.
That's nearly 200 miles north of the agricultural land that Ullman and other environmentalists say is crucial to state and federal efforts to restore the wetlands area to a healthy ecosystem.
Part of a series about small businesses in America
When it comes to job creation, politicians talk about small businesses as the engines of the U.S. economy. It's been a familiar refrain among politicians from both major parties for years.
But it obscures the economic reality. It makes a nice slogan, but it's not really accurate to say that small businesses produce most of the nation's new jobs, says John Haltiwanger, an economics professor at the University of Maryland.
Originally published on Wed October 9, 2013 8:10 pm
Janet Yellen got the official nod from President Obama Wednesday afternoon for the Fed's top spot. If Yellen's nomination is confirmed by the Senate, she'll be the first woman to head the Federal Reserve System and the most powerful central banker in the world.
But since she would be the first woman to get the job, just what exactly would her title be? Chair? Chairman? Chairwoman?
Yellen would replace Ben Bernanke, whose official salutation is chairman of the Board of Governors of the Federal Reserve System.
With little progress being made to resolve the government shutdown, House Republicans have decided on a piecemeal strategy.
They have been voting to reopen small pieces of the government β for example, on Wednesday, they approved bills paying for the Federal Aviation Administration and for death benefits to the families of service members.
Originally published on Wed October 9, 2013 7:13 pm
Are House Republicans still seeking Democratic concessions on the Affordable Care Act? Or have they switched their sights to even bigger targets: federal spending on entitlements like Medicare and Social Security?
The answer on Wednesday depended on which Republican you asked.