By Joseph Lawler | 10/17/13 05:08 PM
The budget crisis is over, for now, but the after-effects are yet to be sorted out. Early reports have been dire: Standard and Poor’s said in an analysis that the 16-day shutdown has already shrunk the U.S. economy by $24 billion.
By Joseph Lawler | 10/16/13 04:35 PM
The news of a congressional deal to raise the debt ceiling led to an immediate surge in stock and bond markets Wednesday morning as the threat of default was defused.
By Joseph Lawler | 10/16/13 12:02 PM
Almost alone among economic indicators, consumer confidence has plunged during the government shutdown and as the possibility of a default nears. The economic confidence index updated daily by Gallup has fallen steadily since the summer and dramatically since the shutdown began two weeks ago....
By Joseph Lawler | 10/16/13 10:53 AM
Contrary to widespread perception, Thursday is not a hard deadline for raising the debt ceiling. The U.S. will not default on Treasury debt or any other obligations on Thursday. But Treasury Secretary Jack Lew says Thursday is the last day the Treasury can guarantee that there won't be a default.
By Joseph Lawler | 10/15/13 07:18 PM
Republicans are trying to restrict the Treasury's ability to maneuver under the debt ceiling with a provision that could, counterintuitively, have the effect of reducing the possibility of a default in the future. House Republicans are considering legislation to raise the debt ceiling and fund...
By Joseph Lawler | 10/15/13 05:32 PM
Fitch Ratings placed U.S. credit on negative watch Tuesday, sending a message to lawmakers that the nation's debt limit must be raised soon to maintain the nation's AAA credit rating. The ratings agency faulted the country's "political brinkmanship" for the possible downgrade, even though it...
By Joseph Lawler | 10/14/13 12:37 PM
Overshadowed by the looming threat of a U.S. government default, the ongoing government shutdown is stretching into a third week. The economic damage caused by the lapse in funding has so far been limited, but it will grow more severe if Congress doesn't approve funding for normal operations....
By Joseph Lawler | 10/14/13 08:56 AM
Three U.S. economists were awarded the Nobel Prize in economics Monday morning for their work on the study of changes in prices in stocks, bonds, and other assets. The winners are Eugene Fama and Lars Peter Hansen of the University of Chicago, and Robert Shiller of Yale.
By Joseph Lawler | 10/14/13 07:55 AM
The countdown to the U.S. government brush with debt ceiling this week is the top economic news -- not just in American markets, but all over the world. Thursday, Oct. 17, is the day that Jack Lew has said he will run out of room under the debt ceiling. Contrary to popular belief, it does...
By Joseph Lawler | 10/11/13 04:54 AM
Michael Strain and Stan Veuger for the American Enterprise Institute: Much is in flux in Washington this week. But two important realities have remained constant, whether certain elements in the GOP accept them or not: We must not default on the federal debt, and we shouldn't wait until we're on...
By Philip Klein | 12/11/13
By Byron York | 12/09/13
By Noemie Emery | 12/11/13
By Philip Klein | 12/11/13