WASHINGTON, Nov. 12 (TNSrep) -- The Congressional Research Service issued the following report (No. R48209) on Oct. 4, 2024, entitled "A Binding Debt Limit: Background and Possible Consequences" by economic policy analyst D. Andrew Austin. Here are excerpts: * * * SUMMARY In September 2024, gross federal debt was about $35.3 trillion. Debt limit episodes have been a recurring feature of federal fiscal policy since 2001, when federal budget deficits returned after four years of surpluses. The more PR

WASHINGTON, Nov. 12 (TNSrep) -- The Congressional Research Service issued the following report (No. R48209) on Oct. 4, 2024, entitled "A Binding Debt Limit - Background and Possible Consequences:" (Continued from Part 1 of 4) * * * Treasury Actions in Select Debt Limit Episodes To date, the modern debt limit has not yet prevented Treasury from paying all federal obligations. During debt limit episodes in 1985, 1995-1996, 2002, 2003, 2011, 2013, 2014, 2015, 2017, 2019, 2021, and 2023, howeve more PR

WASHINGTON, Nov. 12 (TNSrep) -- The Congressional Research Service issued the following report (No. R48209) on Oct. 4, 2024, entitled "A Binding Debt Limit - Background and Possible Consequences:" (Continued from Part 2 of 4) * * * Treasury and Federal Reserve Contingency Planning Managing and mitigating risks is an integral part of any large financial institution, no less so for federal agencies responsible for core fiscal operations./127 During the 2011 and 2013 debt limit episodes, Treasu more PR

WASHINGTON, Nov. 12 (TNSrep) -- The Congressional Research Service issued the following report (No. R48209) on Oct. 4, 2024, entitled "A Binding Debt Limit - Background and Possible Consequences:" (Continued from Part 3 of 4) * * * Potential Economic and Financial Effects A binding debt limit would not only hinder federal finances and operations, but could also trigger severe economic and financial consequences. A 1979 GAO report noted that a federal default caused by a binding debt limit co more PR

WASHINGTON, Nov. 12 -- Sen. Jon Ossoff, D-Georgia, issued the following news release: Atlanta, Ga. U.S. Senator Jon Ossoff is helping hire and train more mental health counselors for students in Georgia schools. Sen. Ossoff is delivering over $1.7 million in Federal resources through the Bipartisan Safer Communities Act that will help Georgia universities and schools provide children and teens with mental health services and help reduce the shortages of counselors in schools. "Bringing both p more PR

WASHINGTON, Nov. 12 -- Sen. Jeanne Shaheen, D-New Hampshire, issued the following news release: Senator Jeanne Shaheen (D-NH), a senior member of the U.S. Senate Appropriations Committee, applauded $830,778 in federal funding headed to the City of Franklin from the Bureau of Justice Assistance's Students, Teachers, Officers Preventing (STOP) School Violence Program Competitive Grant to help build the capacity of the School District's Office of School Wellness. The funding, which Shaheen helped  more PR