Debt Limit | Concord Coalition

Blog Post

Why the National Debt Just Hit $20 Trillion

September 13, 2017

On Sept. 8 the national debt increased by over $300 billion, surpassing $20 trillion for the first time in history -- a symbolic reminder of the federal government’s flawed fiscal policy. But how exactly did we get to this point, and why was there such a sharp increase in a single day?

In the News

National Debt: Do Rising Annual Deficits Threaten the U.S. Economy?

September 06, 2017

CQ Researcher

Topics

Budget Process

Debt Limit

Deficit

Economy

Federal Budget

Fiscal Responsibility

The clock is ticking, so-called budget hawks warn about the nation's growing national debt: Public debt has soared from $925 billion in 1982 to almost $14.4 trillion in 2017.

Blog Post

The Debt Limit is More Trouble Than It’s Worth

September 06, 2017

The original purpose of creating a statutory debt limit in 1917 was not to prevent the government from running up too much debt, but to remove the requirement that Congress authorize individual issuances of debt. The intent was to help ensure that sufficient and timely credit would be available to finance World War I. One hundred years later, things are very different. The main use of the debt limit now is to prevent the government from paying its bills on time, putting the nation’s creditworthiness at risk and threatening a global financial crisis.

Issue Brief

A Tale of Two Deadlines

Two deadlines converge by coincidence this year. They are not related to one another and the precise consequences of failing to deal with them in a timely manner are different. Missing either of the deadlines, however, has the potential to do harm to the nation’s fiscal situation and the economy. There is certainly no good reason for provoking a standoff on either.

Issue Brief

Understanding the Federal Debt Limit

Congress voted in November 2015 to again suspend the federal debt limit.

In the News

The Looming Fiscal Train Wreck Means Trump Won’t Get His Wall. Here’s Why

August 07, 2017

The Fiscal Times

Topics

Budget Process

Congress

Debt Limit

Deficit

Discretionary Spending

Economy

Federal Budget

Fiscal Responsibility

National Debt

Congress has religiously missed its deadline for passing a budget and related spending bills for eight consecutive years.

In the News

K Street Ups Pressure for Congress to Raise Debt Limit

July 17, 2017

CQ Roll Call

Topics

Debt Limit

Discretionary Spending

Economy

Federal Budget

Lobbyist for financial services and business groups are putting more pressure on Congress to quickly raise the debt limit and fund the government “without drama,” according to a July 17 s

In the News

Expert Sees Autumn of US Budget Brinksmanship

July 17, 2017

Market News International

Topics

Budget Process

Congress

Debt Limit

Federal Budget

Fiscal Responsibility

In an interview with Market News International (MNI), published July 12 online, The Concord Coalition’s executive director, Robert L.

In the News

Deadline Is Set for Congress to Raise Debt Ceiling

July 02, 2017

New York Times

Topics

Budget Process

Debt Limit

Deficit

WASHINGTON — Congress has until mid-October to raise the statutory borrowing limit or the United States will risk defaulting on its debt obligations, the

Press Release

CBO Report Shows the Costs of Procrastination

WASHINGTON -- The Concord Coalition said today that updated projections by the Congressional Budget Office (CBO) underscore the need for President Trump and Congress to turn their attenti