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United States Debt-ceiling Crisis Of 2011
In 2011, ongoing political debate in the United States Congress about the appropriate level of government spending and its effect on the national debt and deficit reached a crisis centered on raising the debt ceiling, leading to the passage of the Budget Control Act of 2011. The Republican Party, which gained control of the House of Representatives in January 2011, demanded that President Obama negotiate over deficit reduction in exchange for an increase in the debt ceiling, the statutory maximum of money the Treasury is allowed to borrow. The debt ceiling had routinely been raised in the past without partisan debate or additional terms or conditions. This reflects the fact that the debt ceiling does not prescribe the amount of spending, but only ensures that the government can pay for the spending to which it has already committed itself. Some use the analogy of an individual "paying their bills." If the United States breached its debt ceiling and were unable to resort t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
United States Congress
The United States Congress is the legislature, legislative branch of the federal government of the United States. It is a Bicameralism, bicameral legislature, including a Lower house, lower body, the United States House of Representatives, U.S. House of Representatives, and an Upper house, upper body, the United States Senate, U.S. Senate. They both meet in the United States Capitol in Washington, D.C. Members of Congress are chosen through direct election, though vacancies in the Senate may be filled by a Governor (United States), governor's appointment. Congress has a total of 535 voting members, a figure which includes 100 United States senators, senators and 435 List of current members of the United States House of Representatives, representatives; the House of Representatives has 6 additional Non-voting members of the United States House of Representatives, non-voting members. The vice president of the United States, as President of the Senate, has a vote in the Senate ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Fitch Group
Fitch Ratings Inc. is an American credit rating agency. It is one of the three nationally recognized statistical rating organizations (NRSRO) designated by the U.S. Securities and Exchange Commission and is considered as being one of the " Big Three credit rating agencies", along with Moody's and Standard & Poor's. History Fitch Ratings is dual headquartered in New York and London. Hearst owns 100 percent of the company following its acquisition of an additional 20 percent for $2.8 billion on April 12, 2018. Hearst had owned 80 percent of the company after increasing its ownership stake by 30 percent on December 12, 2014, in a transaction valued at $1.965 billion. Hearst's previous equity interest was 80 percent following expansions on an original acquisition of 20 percent interest in 2006. Hearst had jointly owned Fitch with FIMALAC SA, which held 20 percent of the company until the 2018 transaction. Fitch Ratings and Fitch Solutions are part of the Fitch Group. The fi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Debt Ceiling 1981-2010
Debt is an obligation that requires one party, the debtor, to pay money borrowed or otherwise withheld from another party, the creditor. Debt may be owed by a sovereign state or country, local government, company, or an individual. Commercial debt is generally subject to contractual terms regarding the amount and timing of repayments of principal and interest. Loans, bonds, notes, and mortgages are all types of debt. In financial accounting, debt is a type of financial transaction, as distinct from equity. The term can also be used metaphorically to cover moral obligations and other interactions not based on a monetary value. For example, in Western cultures, a person who has been helped by a second person is sometimes said to owe a "debt of gratitude" to the second person. Etymology The English term "debt" was first used in the late 13th century and comes by way of Old French from the Latin verb ''debere'', "to owe; to have from someone else." The related term "debtor" ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Associated Press
The Associated Press (AP) is an American not-for-profit organization, not-for-profit news agency headquartered in New York City. Founded in 1846, it operates as a cooperative, unincorporated association, and produces news reports that are distributed to its members, major U.S. daily newspapers and radio and television broadcasters. Since the award was established in 1917, the AP has earned 59 Pulitzer Prizes, including 36 for photography. The AP is also known for its widely used ''AP Stylebook'', its AP polls tracking National Collegiate Athletic Association, NCAA sports, sponsoring the National Football League's annual awards, and its election polls and results during Elections in the United States, US elections. By 2016, news collected by the AP was published and republished by more than 1,300 newspapers and broadcasters. The AP operates 235 news bureaus in 94 countries, and publishes in English, Spanish, and Arabic. It also operates the AP Radio Network, which provides twice ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Balanced Budget
A balanced budget (particularly that of a government) is a budget in which revenues are equal to expenditures. Thus, neither a budget deficit nor a budget surplus exists (the accounts "balance"). More generally, it is a budget that has no budget deficit, but could possibly have a budget surplus. A ''cyclically'' balanced budget is a budget that is not necessarily balanced year-to-year but is balanced over the economic cycle, running a surplus in boom years and running a deficit in lean years, with these offsetting over time. Balanced budgets and the associated topic of budget deficits are a contentious point within academic economics and within politics. Some economists argue that moving from a budget deficit to a balanced budget decreases interest rates, increases investment, shrinks trade deficits and helps the economy grow faster in the longer term. Other economists, especially (but not limited to) those associated with Modern Monetary Theory (MMT), downplay the need for ba ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Constitutional Amendment
A constitutional amendment (or constitutional alteration) is a modification of the constitution of a polity, organization or other type of entity. Amendments are often interwoven into the relevant sections of an existing constitution, directly altering the text. Conversely, they can be appended to the constitution as supplemental additions ( codicils), thus changing the frame of government without altering the existing text of the document. Most constitutions require that amendments cannot be enacted unless they have passed a special procedure that is more stringent than that required of ordinary legislation. Examples of such special procedures include supermajorities in the legislature, or direct approval by the electorate in a referendum, or even a combination of two or more different special procedures. A referendum to amend the constitution may also be triggered in some jurisdictions by popular initiative. Australia and Ireland provide examples of constitutions requiring t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Tea Party Movement
The Tea Party movement was an American fiscally conservative political movement within the Republican Party that began in 2007, catapulted into the mainstream by Congressman Ron Paul's presidential campaign. The movement expanded in response to the policies of Democratic President Barack Obama and was a major factor in the 2010 wave election in which Republicans gained 63 House seats and took control of the U.S. House of Representatives. Participants in the movement called for lower taxes and for a reduction of the national debt and federal budget deficit through decreased government spending. It urges the return of government as intended by some of the Founding Fathers. It also seeks to teach its view of the Constitution and other founding documents. Scholars have described its interpretation variously as originalist, popular, or a unique combination of the two. Reliance on the Constitution is selective and inconsistent. Adherents cite it, yet do so more as a cultur ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
United States Democratic Party
The Democratic Party is a Centre-left politics, center-left political parties in the United States, political party in the United States. One of the Major party, major parties of the U.S., it was founded in 1828, making it the world's oldest active political party. Its main rival since the 1850s has been the Republican Party (United States), Republican Party, and the two have since dominated American politics. The Democratic Party was founded in 1828 from remnants of the Democratic-Republican Party. Senator Martin Van Buren played the central role in building the coalition of state organizations which formed the new party as a vehicle to help elect Andrew Jackson as president that year. It initially supported Jacksonian democracy, agrarianism, and Manifest destiny, geographical expansionism, while opposing Bank War, a national bank and high Tariff, tariffs. Democrats won six of the eight presidential elections from 1828 to 1856, losing twice to the Whig Party (United States) ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
United States Republican Party
The Republican Party, also known as the Grand Old Party (GOP), is a Right-wing politics, right-wing political parties in the United States, political party in the United States. One of the Two-party system, two major parties, it emerged as the main rival of the then-dominant Democratic Party (United States), Democratic Party in the 1850s, and the two parties have dominated American politics since then. The Republican Party was founded in 1854 by anti-slavery activists opposing the Kansas–Nebraska Act and the expansion of slavery in the United States, slavery into U.S. territories. It rapidly gained support in the Northern United States, North, drawing in former Whig Party (United States), Whigs and Free Soil Party, Free Soilers. Abraham Lincoln's 1860 United States presidential election, election in 1860 led to the secession of Southern states and the outbreak of the American Civil War. Under Lincoln and a Republican-controlled Congress, the party led efforts to preserve th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Financial Markets
A financial market is a market in which people trade financial securities and derivatives at low transaction costs. Some of the securities include stocks and bonds, raw materials and precious metals, which are known in the financial markets as commodities. The term "market" is sometimes used for what are more strictly ''exchanges'', that is, organizations that facilitate the trade in financial securities, e.g., a stock exchange or commodity exchange. This may be a physical location (such as the New York Stock Exchange (NYSE), London Stock Exchange (LSE), Bombay Stock Exchange (BSE) or Johannesburg Stock Exchange (JSE Limited)) or an electronic system such as NASDAQ. Much trading of stocks takes place on an exchange; still, corporate actions (mergers, spinoffs) are outside an exchange, while any two companies or people, for whatever reason, may agree to sell the stock from the one to the other without using an exchange. Trading of currencies and bonds is largely on a bi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
