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Debt Ceiling

Debt Ceiling

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Spencer Platt, Getty Images
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Stocks Rise Amid Debt Ceiling Talks

Stocks rose Monday, helped by signs that Washington was moving closer to a deal that would avert a default by the U.S. government.

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House Passes Bill to Defuse Debt Crisis

The House has passed a bill to permit the government to borrow enough money to avoid a first avoid default for at least four months, defusing a crisis looming next month and setting the stage for a springtime debate over taxes, spending and the deficit.

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Rep. Bill Pascrell (D) speaks about debt ceiling extension on House floor
Rep. Bill Pascrell (D) speaks about debt ceiling extension on House floor (CSPAN)
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House Passes Bill To Defuse Debt Crisis

The House has passed a bill to permit the government to borrow enough money to avoid a first avoid default for at least four months, defusing a crisis looming next month and setting the stage for a springtime debate over taxes, spending and the deficit.

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Congress-300x199
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GOP Moves to Delay Debt-Ceiling Showdown

Republicans controlling the House are moving quickly to try to defuse a potential debt crisis. They're offering legislation to prevent a first-ever default on U.S. obligations for three months or more.

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US Capital building
U.S. Capital building (Chip Somodevilla, Getty Images)
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GOP Official: House To Vote To Lift Debt Limit

A Republican official says the GOP-controlled House will vote next week to permit the government to borrow more money to meets its obligations.

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President Barack Obama speaks during a news conference in the East Room of the White House
President Barack Obama speaks during a news conference in the East Room of the White House (Chip Somodevilla/Getty Images)
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Obama Demands Quick Action To Raise Debt Limit [VIDEO]

President Barack Obama demanded on Monday that lawmakers raise the nation's $16.4 trillion federal debt limit quickly, warning that "Social Security benefits and veterans' checks will be delayed" if they don't and cautioning Republicans not to insist on concessions in exchange.

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Sewer backup
Flickr user | Ace - 2010 - AVWYA Water Expo
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A Simple Analogy Explaining the Debt Ceiling [Poll]

An anonymous analogy has been circulating the internet.  It's a simple analogy that will help you understand the debt ceiling.

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