This week, President Obama urged congress to reach a compromise on the so-called debt ceiling-the legal ceiling for federal debt-and agree on a new budget that would balance America’s books. Policy wonks and politicos have prophesized that any prolonged, bipartisan stalemate would plunge America into economic turmoil anew. It seems the congressional “Gang of Six, “composed of the top lawmakers on either side of the isle, has finally agreed to move forward with talks to cut nearly 3.7 trillion dollars in federal spending over the next 10 years. Though it is unclear from what programs and jurisdictions this money will come, it is clear that reaching a final version any compromise and subsequent bill, in the bipartisan House and Senate, will be long and anguished.
Credit card bills become a headache for everyone
Much of America will be relieved that the US government isn’t going to shutdown as it threatened … Read More