CBO: Real debt ceiling deadline could hit in March
November 20th, 2013
05:46 PM ET
1 year ago

CBO: Real debt ceiling deadline could hit in March

(CNNMoney) - The budget focus on Capitol Hill is whether lawmakers will do the bare minimum and agree on a spending level for this fiscal year before funding runs out on January 15.

But soon enough, they will have to turn their attention to raising the debt ceiling.

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Filed under: Congress • Debt
Obama vs. Romney: How they'd tackle deficits
October 3rd, 2012
11:26 AM ET
2 years ago

Obama vs. Romney: How they'd tackle deficits

New York (CNNMoney) - Both President Obama and Mitt Romney share a similar goal when it comes to the federal debt: They want to get it under control.

How they would do it differs greatly. Obama's goal is more restrained; he wants to keep deficits from growing faster than the economy. Romney's aim is to flat-out balance the federal budget in eight years. (Related: The candidates and the fiscal cliff)

Tune to CNN for Wednesday's presidential debate coverage starting at 7 p.m. ET on CNN TV, CNN.com and via CNN's apps for iPhone, iPad and Android. Web users can become video editors with a new clip-and-share feature that allows them to share favorite debate moments on Facebook and Twitter.

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Filed under: 2012 • Deficit • Mitt Romney • President Obama
CBO sends Boehner back to drawing board
July 26th, 2011
08:11 PM ET
3 years ago

CBO sends Boehner back to drawing board

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NEW YORK (CNNMoney) - With the clock ticking down, House Speaker John Boehner will rewrite his debt ceiling legislation to ensure that it meets his oft-stated pledge to cut spending more than Congress increases the federal borrowing limit.

That was the word from Boehner's office after the Congressional Budget Office on Tuesday evening estimated that the Budget Control Act of 2011 would reduce deficits by only $851 billion over 10 years.

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Filed under: Congressional Budget Office • Debt • Deficit • John Boehner
Treasury reaffirms Aug. 2 debt ceiling deadline
July 1st, 2011
11:05 AM ET
3 years ago

Treasury reaffirms Aug. 2 debt ceiling deadline

NEW YORK (CNNMoney) – Underscoring the need for swift congressional action, the Treasury Department on Friday reiterated its Aug. 2 deadline for raising the debt ceiling.

Treasury urged Congress "to avoid the catastrophic economic and market consequences of a default crisis by raising the statutory debt limit in a timely manner," according to a statement.

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Filed under: CNNMoney.com • Congress • Debt • Treasury Department