debt ceiling

5:43 pm
Fri October 11, 2013

Congressman John Yarmuth Admonishes Senator Rand Paul for Debt Ceiling Comments

Congressman John Yarmuth, D-Ky., (l) and Senator Rand Paul, R-Ky., (r)
Credit Phillip Bailey / WFPL News

Democratic Congressman John Yarmuth is scolding fellow Kentuckian and Republican Senator Rand Paul for downplaying the significance of default if the U.S. government doesn't raise the debt ceiling.

The borrowing limit is currently set at $16.7 trillion for things such as publicly traded bonds and Social Security payments.

Most experts on the matter say the U.S. won't be able to pay off those loans after the Oct. 17 deadline and could run out of money by the end of the month unless Congress raises the ceiling.

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4:34 pm
Tue January 22, 2013

Massie Having "A Lot of Reservations" With Debt Ceiling Proposal


Republican Congressman Thomas Massie of Kentucky says he isn’t sure he can support a plan to raise the nation’s debt ceiling until May, even though his party’s leaders are backing the idea.

Massie was among a group of GOP lawmakers who participated in a press conference in Washington today called “Conversations With Conservatives.”

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6:00 am
Sat January 19, 2013

Rand Paul To Introduce Bill Directing Priorities if Debt Ceiling Not Raised

Rand Paul
Credit U.S. Senate

Sen. Rand Paul plans to introduce legislation that would prevent the federal  government from defaulting if it fails to raise the debt ceiling. 

President Barack Obama and Congress are once again tussling over increasing the nation’s debt limit. The president says he won’t negotiate the issue, while the GOP wants to tie any change to spending cuts.

If an agreement isn't reached, the U.S. will be unable to pay its bills. Paul says his legislation will force the president pay debt interest, entitlements and the military before using remaining funds.

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