Related Content: 2013

2011 Debt Ceiling Debate

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As the government shutdown continues, the next fiscal crisis is already on the horizon. The Treasury says the U.S. will default on its loans on Oct. 17 unless Congress agrees to raise the debt ceiling, but House Republicans will not allow the debt ceiling to be raised without some concessions. During last fight to raise the debt ceiling in 2011, a deal was reached just 2 days before U.S. borrowing authority lapsed. The deal included significant cuts in spending, but the cantankerous debate resulted in the first-ever downgrade of the U.S. credit rating.

Obama's Corporate Tax Plan Presages Election Debate

On The Radar

President Obama's corporate tax reform "framework" unveiled Wednesday is unlikely to become law in an election year, but a partisan and economically rooted debate about individual and business taxes will figure prominently before November. Two competing visions for fiscal rejuvenation after 2013 are guaranteed to clash when Obama and a GOP nominee finally face one another later this year.
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Obama Budget Optimistic on Economic Growth, Again

On The Radar

President Obama’s economists are nothing if not optimistic. In the fiscal year 2013 presidential budget request, they’ve once again forecast higher future growth than their private-sector peers – about a half-point of gross domestic product growth more, per year, than the 45 economists included in the Philadelphia Fed’s Survey of Professional Forecasters.
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