The Debt Ceiling Has Been ReachedThe government has once again reached the $18.1 trillion debt ceiling. Are we headed for another shutdown? 2015 could wind up being the best economic year for the developed world in nearly a decade. In the U.S., hiring over the past year has been stronger than any time since the go-go 1990s. GDP growth in 2014 was the best the economy experienced since 2010. Even growth prospects in Europe are looking up in the wake of the European Central Bank’s launch of a quantitative easing plan. The ECB actually revised its growth prospects upward for once, estimating that the eurozone will grow by 1.5% this year rather than 1%. The biggest potential risk to what looks like an accelerating recovery, however, is government. And with the government reaching an $18.1 trillion debt ceiling on Monday, Congress and the White House have a perfect opportunity to torpedo the economy. After that, the Treasury will need to resort to “extraordinary measures,” or accounting tricks to keep government debt under the statutory limit. Source: Fortune - See more at: http://americanactionnews.com/articles/alert-the-debt-ceiling-has-been-reached#sthash.ThdiCNd8.dpuf
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