Word: defaulting
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...extending federal borrowing authority past the March 1 deadline set by Treasury Secretary Robert Rubin. Markets and Congressional negotiators trembled Wednesday when Moody's threatened to downgrade its rating of $387 billion in U.S. bonds because it said the budget impasse had 'significantly increased the risk of a default.' Urged on by House Speaker Newt Gingrich's offer to make a "down payment" on reaching a budget deal, Tumulty reports that even hard-line House Freshmen appear ready to make a deal. "The threat of not extending the debt ceiling was going to be their last hurrah...
WHILE THE BUDGET EQUIVALENT OF MELROSE PLACE reached a climax this week, a new installment in the spin-off drama, Default Lane, began filming. For those who hate suspense, here's a preview of the final scene: there's no chance the U.S. government will default on its debt, now or ever...
...debt yet. Members are still returning to Washington. Moreover, the White House may have some leverage, given its advantage over Congress in the polls." Interest payments on the national debt are due on February 15th. If Republicans refuse to authorize a higher debt ceiling, the federal government could default on its financial obligations for the first time. So far, Treasury Secretary Robert Rubin has avoided taking that step, thus buying President Clinton time and negotiating room, by tapping into federal trust funds, a maneuver that some Republicans say is unconstitutional and could lead to Rubin's impeachment. The White House...
...Dole voters I spoke with last week displayed any enthusiasm. Most seemed grudgingly resigned to their choice. As a result, many local Republicans predict that caucus attendance will fall to less than a quarter of the 1988 total of 974 voters. "It's a 'by default' kind of thing," concedes Elaine Homan, a local Dole supporter. "I can't even count on my own family's showing...
...addition to protecting Clark's health, the default enabled the competitors to leave New Jersey ahead of the snow. Assistant coach Mimi Ells was not so lucky. The weather kept her in Princeton longer than anticipated...