What would happen if Congress doesn't raise the debt ceiling and the U.S. defaults on its debt later this month? The broad economic implications are unpredictable, but a default could cause huge trouble for the global economy.
But whatever happens to the global economy, one thing is clear: People all over the world who have loaned the U.S. government money won't get paid on time.
Originally published on Wed October 9, 2013 7:10 pm
Janet Yellen got the official nod from President Obama Wednesday afternoon for the Fed's top spot. If Yellen's nomination is confirmed by the Senate, she'll be the first woman to head the Federal Reserve System and the most powerful central banker in the world.
But since she would be the first woman to get the job, just what exactly would her title be? Chair? Chairman? Chairwoman?
Yellen would replace Ben Bernanke, whose official salutation is chairman of the Board of Governors of the Federal Reserve System.
Originally published on Wed October 9, 2013 6:13 pm
Are House Republicans still seeking Democratic concessions on the Affordable Care Act? Or have they switched their sights to even bigger targets: federal spending on entitlements like Medicare and Social Security?
The answer on Wednesday depended on which Republican you asked.
With little progress being made to resolve the government shutdown, House Republicans have decided on a piecemeal strategy.
They have been voting to reopen small pieces of the government â€” for example, on Wednesday, they approved bills paying for the Federal Aviation Administration and for death benefits to the families of service members.