A Reading List for Following the Debt Ceiling Drama

[Donnachaidh]

http://www.propublica.org/article/a-reading-list-for-following-the-debt-ceiling-drama?utm_source=socmed&utm_medium=twitter&utm_content=7/28&utm_campaign=debt%2Bceiling



We’re updating this reading list continuously as new stories and resources on the debt ceiling debate come out. The most recent updates are starred (*).

Congress has until a week from today to raise the debt ceiling, the cap on the amount of money the Treasury can borrow to pay the government's bills. As the clock keeps ticking, you may still have unanswered questions. How dire could the consequences of not raising the debt ceiling be? What are the possible solutions? Here's a reading list to help you keep up.

*The Debate Today (Thursday, July 28)

After a great deal of discord among the GOP yesterday <1>, the Congressional Budget Office announced that Republican House Leader John Boehner’s new bill will save $915 billion over 10 years <2>. Boehner’s bill comes up for a vote in the House today, where it’s expected to pass, though Senate Majority Leader Harry Reid has said that it won’t get any Democratic support in the Senate <3>. The New York Times has a useful interactive for comparing the deficit reduction plans that are currently on the table <4>. At Ezra Klein’s blog, Suzy Khimm explains where the CBO came from, and why it has so much authority that its analysis can make or break a bill <5>. Slate’s Annie Lowry has a good explanation of what’s likely to happen if Congress doesn’t work out a debt ceiling deal by August 2—the government won’t default <6>, she argues, but the economy will certainly suffer.

More at the link --