Political Capital

Posts tagged: debt

A retiree attends a Senior Information & Resource Fair in South Gate, California.

Photograph by Robyn Beck/AFP via Getty Images

A retiree attends a Senior Information & Resource Fair in South Gate, California.

Bloomberg by the Numbers: 26%

Federal spending is projected to rise to 26 percent of gross domestic product in 2039 from 21 percent in 2013, according to the Congressional Budget Office. Increased spending for Social Security, Medicare, Medicaid, children’s health programs and subsidies for medical...

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A jogger runs past the Capitol building in Washington, D.C.

Photograph by Pete Marovich/Bloomberg

A jogger runs past the Capitol building in Washington, D.C.

Bloomberg by the Numbers: $17.1 Trillion

That’s the approximate current federal debt subject to limit. At the moment, there’s no statutory limit on new federal debt because a measure President Barack Obama signed into law Oct. 17 suspended the $16.7 trillion limit through Feb. 7. The...

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Douglas Elmendorf, director of the Congressional Budget Office, during a House Budget Committee hearing in 2012

Photograph by Andrew Harrer/Bloomberg

Douglas Elmendorf, director of the Congressional Budget Office, during a House Budget Committee hearing in 2012

103 Ways to Leave Your Deficit

For Paul Simon, it was “50 ways to leave your lover.” For Doug Elmendorf, it’s 103 ways to cut your budget. Which may be about equally difficult. The director of the Congressional Budget Office offered Congress today a long list...

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President Barack Obama pauses while speaking during a news conference in the White House briefing room in Washington, D.C., on Oct. 8, 2013.

Photograph by Andrew Harrer/Bloomberg

President Barack Obama pauses while speaking during a news conference in the White House briefing room in Washington, D.C., on Oct. 8, 2013.

Shutdown Journal: Day 10

Updated at 10:05 through 6:53 pm EDT President Barack Obama neither accepted nor rejected the House Republicans’ plan to increase the debt limit short-term and end the government shutdown as the two sides entered further talks tonight, Bloomberg’s Roxana Tiron,...

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House Republican leaders are struggling to avoid a U.S. government shutdown at month's end after delaying a vote on a spending plan opposed by dozens of their caucus members.

Photograph by Andrew Harrer/Bloomberg

House Republican leaders are struggling to avoid a U.S. government shutdown at month's end after delaying a vote on a spending plan opposed by dozens of their caucus members.

Countdown to Shutdown: 7 Days

Updated at 9:20, 10, 11:15 am and 4 pm EDT with Sam Kussin-Shoptaw reporting from the Senate “I intend to speak in support of defunding Obama-care until I am no longer able to stand. To do everything that I can...

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Congressional aides stand beneath a monitor displaying the U.S. national debt and listen as Ben S. Bernanke, chairman of the U.S. Federal Reserve, delivers his semi-annual monetary policy report in Washington, D.C.

Photograph by Pete Marovich/Bloomberg

Congressional aides stand beneath a monitor displaying the U.S. national debt and listen as Ben S. Bernanke, chairman of the U.S. Federal Reserve, delivers his semi-annual monetary policy report in Washington, D.C.

Bloomberg by the Numbers: 2038

That’s the year that the federal debt is projected to reach 100 percent of gross domestic product. Federal debt held by the public is now about 73 percent of GDP, according to a Congressional Budget Office report yesterday. That’s already...

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Former U.S. Sen. Rick Santorum (R-PA) speaks during the 2013 NRA Annual Meeting and Exhibits on May 3, 2013 in Houston, Texas

Photograph by Justin Sullivan/Getty Images

Former U.S. Sen. Rick Santorum (R-PA) speaks during the 2013 NRA Annual Meeting and Exhibits on May 3, 2013 in Houston, Texas

Santorum’s Donor Roster Pays Dividends for NASCAR, Other Debts

Updated 11:24 a.m. For Rick Santorum, there’s gold in his list of campaign contributors. Santorum, who owed $2.3 million when he pulled the plug on his Republican presidential campaign in April 2012, whittled that down to $552,895 at the end...

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The U.S. Department of the Treasury building in Washington, D.C.

Photograph by Andrew Harrer/Bloomberg

The U.S. Department of the Treasury building in Washington, D.C.

Bloomberg by the Numbers: $35 Bln

That’s how much government debt the Treasury Department projects it will pay down in this year’s second quarter. That would mark the first net decline in debt since 2007, before the deepest recession since the Great Depression took hold. The...

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Photograph by Scott Olson/Getty Images

Obama Campaign Still Owes $3 Million

President Barack Obama’s campaign committee, Obama for America, still owes $3.1 million, new Federal Election Commission filings show. The debts include $626,886 for stage, sound and lighting at campaign events; $500,757 for telemarketing and more than $216,146 for legal fees....

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