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Yet Another Crisis
Every day in Washington, D.C., seems to bring new crises to defuse. One of the next ones on the list is the upcoming need to raise the debt ceiling before the government runs out of money to pay the nation's bills. Without action, the government is anticipated to run out of money in early October.
Once again, one group is asking for clean legislation to raise the debt ceiling, while others threaten to use the debt ceiling bill as leverage to promote other legislative goals. The novel twist this time is that Republicans are fighting other Republicans.
At first glance, this may seem like more partisan Washington nonsense that doesn't affect you personally. The partisan and nonsense part may be correct, depending on your political leanings – but the effects of a failure to raise the debt ceiling can lead all the way to your pocketbook.
Who Gets Left Out?
Keep in mind that raising the debt ceiling does not a...
The Federal Reserve’s policy committee is expected to lift its target interest rate a quarter-point – to a range of 0.5 percent to 0.75 percent – at its final meeting of 2016.