2011 U.S. Debt Ceiling Crisis
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Definition of '2011 U.S. Debt Ceiling Crisis'
A contentious July 2011 debate regarding the maximum amount of borrowing that the United States government should be allowed to undertake. A debt ceiling has been in place since 1917, but the government raises it whenever it comes close to hitting it. Hitting the debt ceiling would mean defaulting on interest payments to creditors. The consequences of such a default could include late, partial or missed payments to federal pensioners, Social Security and Medicare recipients, government employees and government contractors, as well as an increase in interest rate at which the U.S. could undertake further borrowing. The 2011 U.S. debt ceiling crisis was a heated negotiation over how to avoid potential problems like these.
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Investopedia explains '2011 U.S. Debt Ceiling Crisis'
Congress resolved the debt ceiling crisis when it passed the Budget Control Act of 2011 and decided to immediately raise the debt ceiling by $400 billion, from $14.3 trillion to $14.7 trillion, with the option for additional increases in the coming months. The agreement included $900 billion in spending cuts over the next 10 years and established a special committee to identify additional spending cuts. In the aftermath of the crisis, Standard and Poor's downgraded the United States' credit rating from AAA to AA+ even though the U.S. did not default.
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Search results for '2011 U.S. Debt Ceiling Crisis'
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http://financialedge.investopedia.com/financial-edge/0611/Should-Congress-Raise-The-Debt-Ceiling.aspx
... Posted: June 7, 2011 9:20AM by Tim Begany. ... (To learn more on how the US got into
this situation, read Government Debt: From Billions To Trillions.). ...
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http://financialedge.investopedia.com/financial-edge/0811/The-Italian-Crisis.aspx
... Posted: August 11, 2011 9:25AM by Tim Parker. ... As of August 8, the US stock market
is down 9 ... violent declines in history and although the debt ceiling debate was ...
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http://financialedge.investopedia.com/financial-edge/0811/Can-The-U.S.-Super-Committee-Solve-The-Debt-Crisis.aspx
... Posted: August 24, 2011 4:16PM by Marc Davis. ... the Obama administration couldn't solve
it recently when they agreed to raise the US debt ceiling by another ...
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http://financialedge.investopedia.com/financial-edge/0811/How-the-Credit-Rating-Downgrade-Affects-the-U.S.-Economy.aspx
... Posted: August 8, 2011 1:00PM by Marc Davis. ... Most urgently, what should the Congress
do about the national debt ceiling - how much can the US be allowed to ...
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http://financialedge.investopedia.com/financial-edge/0811/Why-SP-Downgraded-The-U.S.-And-Others-Did-Not.aspx
... eleventh hour agreement to raise the US debt ceiling was reached ... whether this urgency
will affect the US debt rating in ... Posted: August 17, 2011 10:56AM by Marc ...
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http://financialedge.investopedia.com/financial-edge/0811/Potential-Consequences-Had-The-U.S.-Defaulted.aspx
... with varying degrees of severity should the US default on the new $2.4 trillion
addition to the debt ceiling. ... Posted: August 2, 2011 4:34PM by Marc Davis. ...
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http://www.investopedia.com/articles/basics/11/alternative-debt-investments.asp
... its loan repayment rate is 98.8% as of 2011. ... securities because many such packages
of debt sold by ... But the US Treasury Department is selling mortgage-backed ...
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http://stocks.investopedia.com/stock-analysis/moneyshow/TheWeekAheadForStocksTheDebtCeilingstheLimit.aspx
... Posted: Jul 24, 2011 11:14 AM by Tom Aspray. ... before the deadline would give the US
and global ... Without the debt crisis deadline looming over the market, stocks ...
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http://financialedge.investopedia.com/financial-edge/0911/Of-Gold-Greeks-And-Governance.aspx
... a Head on the Story While the European debt crisis is far ... from the foibles and failings
of the US government. The wrangling in the summer of 2011 offers a good ...
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http://stocks.investopedia.com/stock-analysis/moneyshow/3ETFstoWatchonDebtDeadlineDay.aspx
... Posted: Aug 04, 2011 10:14 AM by MoneyShow.com. ... are not taken to reduce deficits,
the US could lose ... are setting their sights on the American debt market instead ...
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