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History Of United States Debt Ceiling
The history of the United States debt ceiling deals with movements in the United States debt ceiling since it was created in 1917. Management of the United States public debt is an important part of the macroeconomics of the United States economy and finance system, and the debt ceiling is a limitation on the federal government's ability to manage the economy and finance system. The debt ceiling is also a limitation on the federal government's ability to finance government operations, and the failure of Congress to authorize an increase in the debt ceiling has resulted in crises, especially in recent years. Overview A statutorily imposed debt ceiling has been in effect since 1917 when the US Congress passed the '' Second Liberty Bond Act''. Before 1917 there was no debt ceiling in force, but there were parliamentary procedural limitations on the amount of debt that could be issued by the government. Except for about a year during 1835–1836, the United States has continuously ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Debt Of The United States
The "national debt of the United States" is the total national debt owed by the federal government of the United States, federal government of the United States to United States Treasury security, treasury security holders. The national debt at a given point in time is the face value of the then outstanding treasury securities that have been issued by the United States Department of the Treasury, Treasury and other federal agencies. Related terms such as "national deficit" and "national surplus" most often refer to the federal government budget balance from year to year and not the cumulative amount of debt held. In a deficit year, the national debt increases as the government needs to borrow funds to finance the deficit. In a surplus year, the debt decreases as more money is received than spent, enabling the government to Deficit reduction in the United States, reduce the debt by buying back Treasury securities. Broadly, US government debt increases as a result of Government ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Debt Ceiling
In the United States, the debt ceiling is a law limiting the National debt of the United States, total amount of money the federal government can borrow. Since the federal government has consistently run a Deficit spending, budget deficit since 2002, it must borrow to finance the spending that has been legally authorized in United States federal budget, the federal budget. The ceiling does not directly limit the size of the budget deficit; rather, it limits the amount the United States Department of the Treasury, Treasury can borrow to pay this already-authorized spending. When the ceiling is reached without an increase in the limit having been enacted, the Treasury must resort to "extraordinary measures" to temporarily finance government expenditures and obligations until a resolution can be reached. The Treasury has never reached the point of exhausting extraordinary measures, resulting in a Default (finance), default, although, on some occasions, it appeared that Congress mig ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
War Of 1812
The War of 1812 was fought by the United States and its allies against the United Kingdom of Great Britain and Ireland, United Kingdom and its allies in North America. It began when the United States United States declaration of war on the United Kingdom, declared war on Britain on 18 June 1812. Although peace terms were agreed upon in the December 1814 Treaty of Ghent, the war did not officially end until the peace treaty was ratified by the 13th United States Congress, United States Congress on 17 February 1815. AngloAmerican tensions stemmed from long-standing differences over territorial expansion in North America and British support for Tecumseh's confederacy, which resisted U.S. colonial settlement in the Old Northwest. In 1807, these tensions escalated after the Royal Navy began enforcing Orders in Council (1807), tighter restrictions on American trade with First French Empire, France and Impressment, impressed sailors who were originally British subjects, even those who ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The New York Times
''The New York Times'' (''NYT'') is an American daily newspaper based in New York City. ''The New York Times'' covers domestic, national, and international news, and publishes opinion pieces, investigative reports, and reviews. As one of the longest-running newspapers in the United States, the ''Times'' serves as one of the country's Newspaper of record, newspapers of record. , ''The New York Times'' had 9.13 million total and 8.83 million online subscribers, both by significant margins the List of newspapers in the United States, highest numbers for any newspaper in the United States; the total also included 296,330 print subscribers, making the ''Times'' the second-largest newspaper by print circulation in the United States, following ''The Wall Street Journal'', also based in New York City. ''The New York Times'' is published by the New York Times Company; since 1896, the company has been chaired by the Ochs-Sulzberger family, whose current chairman and the paper's publ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reconciliation (United States Congress)
Budget reconciliation is a special parliamentary procedure of the United States Congress set up to expedite the passage of certain federal budget legislation in the Senate. The procedure overrides the Senate's filibuster rules, which may otherwise require a 60-vote supermajority for passage. Bills described as reconciliation bills can pass the Senate by a simple majority of 51 votes or 50 votes plus the vice president's as the tie-breaker. The reconciliation procedure also applies to the House of Representatives, but it has minor significance there, as the rules of the House of Representatives do not have a '' de facto'' supermajority requirement. Because of greater polarization, gridlock, and filibustering in the Senate in recent years, budget reconciliation has come to play an important role in how the United States Congress legislates. Budget reconciliation bills can deal with mandatory spending, revenue, and the federal debt limit, and the Senate can pass one bill per yea ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
NBC News
NBC News is the news division of the American broadcast television network NBC. The division operates under NBCUniversal Media Group, a division of NBCUniversal, which is itself a subsidiary of Comcast. The news division's various operations report to the president of NBC News, Rebecca Blumenstein. The NBCUniversal News Group also comprises MSNBC, the network's 24-hour liberal cable news channel, as well as business and consumer news channels CNBC and CNBC World, the Spanish language and United Kingdom-based Sky News. NBC News aired the first regularly scheduled news program in American broadcast television history on February 21, 1940. The group's broadcasts are produced and aired from 30 Rockefeller Plaza, NBCUl's headquarters in New York City. The division presides over the flagship evening newscast ''NBC Nightly News'', the world's first of its genre morning television program, ''Today (American TV program), Today'', and the longest-running television series in American hi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Credit Suisse
Credit Suisse Group AG (, ) was a global Investment banking, investment bank and financial services firm founded and based in Switzerland. According to UBS, eventually Credit Suisse was to be fully integrated into UBS. While the integration was yet to be completed, both banks are operating separately. However, on May 31, 2024, it was announced that Credit Suisse ceased to exist. Headquartered in Zürich, as a standalone firm, it maintained offices in all major financial centres around the world and provided services in investment banking, private banking, asset management, and shared services. It was known for strict Bank secrecy, bank–client confidentiality and Banking in Switzerland, banking secrecy. The Financial Stability Board considered it to be a Systemically important financial institution, global systemically important bank. Credit Suisse was also a primary dealer and Forex counterparty of the Federal Reserve in the United States. Credit Suisse was founded in 185 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jefferies Group
Jefferies Group LLC is an American multinational independent investment bank and financial services company that is headquartered in New York City. The firm provides clients with capital markets and financial advisory services, institutional brokerage, securities research, and asset management. This includes mergers and acquisitions, restructuring, and other financial advisory services. The Capital Markets segment also includes its securities trading (including the results of its indirectly partially owned subsidiary, Jefferies High Yield Trading, LLC) and investment banking activities. On November 12, 2012, Jefferies announced its merger with Leucadia National Corporation, its largest shareholder. At that time, Leucadia common shares were trading at $21.14 per share. As of December 31, 2015, Leucadia shares were trading at $17.39 per share. Jefferies remains independent and is the largest operating company within the Jefferies Financial Group, as Leucadia was renamed in May ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Freddie Mac
The Federal Home Loan Mortgage Corporation (FHLMC), commonly known as Freddie Mac, is an American publicly traded, government-sponsored enterprise (GSE), headquartered in Tysons, Virginia.Tysons Corner CDP, Virginia ". United States Census Bureau. Retrieved on May 7, 2009. The FHLMC was created in 1970 to expand the secondary market for Mortgage loan, mortgages in the US. Along with its sister organization, the Federal National Mortgage Association (Fannie Mae), Freddie Mac buys mortgages, pools them, and sells them as a mortgage-backed security (MBS) to private investors on the open market. This secondary mortgage market increases the supply of money available for mortgage lending and increases the money available for new home purcha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fannie Mae
The Federal National Mortgage Association (FNMA), commonly known as Fannie Mae, is a United States government-sponsored enterprise (GSE) and, since 1968, a publicly traded company. Founded in 1938 during the Great Depression as part of the New Deal, the corporation's purpose is to expand the secondary mortgage market by securitization, securitizing mortgage loans in the form of mortgage-backed security, mortgage-backed securities (MBS), allowing lenders to reinvest their assets into more lending and in effect increasing the number of lenders in the mortgage market by reducing the reliance on locally based savings and loan associations (or "thrifts"). Its brother organization is the Federal Home Loan Mortgage Corporation (FHLMC), better known as Freddie Mac. In 2024, with over $4.3 trillion in assets, Fannie Mae is the largest company in the United States and the fifth largest company in the world, by assets. Fannie Mae was ranked number 27 on the Fortune 500, ''Fortune'' 50 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Budget Sequestration In 2013
A budget is a calculation plan, usually but not always financial, for a defined period, often one year or a month. A budget may include anticipated sales volumes and revenues, resource quantities including time, costs and expenses, environmental impacts such as greenhouse gas emissions, other impacts, assets, liabilities and cash flows. Companies, governments, families, and other organizations use budgets to express strategic plans of activities in measurable terms. Preparing a budget allows companies, authorities, private entities or families to establish priorities and evaluate the achievement of their objectives. To achieve these goals it may be necessary to incur a deficit (expenses exceed income) or, on the contrary, it may be possible to save, in which case the budget will present a surplus (income exceed expenses). In the field of commerce, a budget is also a financial document or report that details the cost that a service will have if performed. Whoever makes ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
No Budget, No Pay Act Of 2013
The No Budget, No Pay Act of 2013 (; ) is a law passed during the 113th United States Congress. The Act temporarily suspended the US debt ceiling from February 4 to May 18, 2013. It also placed temporary restrictions on Congressional salaries. Background An earlier version of the No Budget, No Pay Act (unrelated to the debt ceiling) was originally introduced in early 2012 by Jim Cooper, a Democratic congressman from Tennessee. It stipulated that congressmen in the United States Congress would not get paid unless they passed a budget by October 1, 2012.Nocera, Kate"'Fix Congress Now' rallies around Cooper's 'No Budget, No Pay Act'" ''Politico'', 16 May 2012. Retrieved on 8 November 2012.Weigant, Chris"No Budget, No Pay Act" ''The Huffington Post'', 14 March 2012. Retrieved on 9 November 2012.Cunningham, Paige W"2-party Group Puts Pay on Line in Get Budget Passed in House" ''The Washington Times'', 16 May 2012. Retrieved on 9 November 2012. The bill received limited bipartisan s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
