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Tag Archives: national debt

President selects debt commission members

WASHINGTON — President Barack Obama’s four appointments to the bipartisan debt panel he established last week include the head of manufacturing giant Honeywell and a former top-ranking Federal Reserve official. Obama will name David Cote, chief executive officer at Honeywell International, and former Federal Reserve Vice Chairman Alice Rivlin to the panel today, an administration official said. He will also ...

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House raises U.S. debt cap

WASHINGTON — The House on Thursday voted to allow the government to go $1.9 trillion deeper in debt — or about $6,000 more for every U.S. resident. The measure, approved 217-212, would raise the cap on federal borrowing to $14.3 trillion. That’s enough to keep Congress from having to vote again before the November elections on an issue that is ...

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Senate raises national debt limit

WASHINGTON — The Senate voted Thursday to allow the U.S. government to go a whopping $1.9 trillion deeper in debt, offering a vivid election-year reminder that the government has to borrow 40 cents of every dollar it spends. Democrats needed all the 60 votes at their disposal to muscle the debt limit legislation through — and were only able to ...

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