A stalemate over U.S. fiscal policy that shut the government for 16 days “encouraged our enemies” and slowed economic growth, President Barack Obama said a day after Congress passed a bipartisan accord to avert default.
Gum Tong owns a diner in Washington, D.C., and Matt Bellinger charters fishing boats in the Florida Everglades. They have this in common: The shutdown of the U.S. government cost them money they will never get back.
After the partisan passions and heated rhetoric, the disruptions of a government shutdown and displays of dysfunction, Congress did what it could have done weeks ago: voted to fund the government and lift the debt limit.
Against a backdrop of exhibits at New York’s Museum of American Finance highlighting the U.S.’s financial history, Blackstone Group LP Chairman Emeritus Peter G. Peterson told patrons and supporters of the museum that the country’s future could be harmed by its national debt.
Wall Street financier Peter G. Peterson got a decent return on his investment last week when Senate Republicans ended the Democrats’ third attempt to push though an extension of unemployment benefits and President Barack Obama failed to persuade his European counterparts at the Group of 20 meeting in Toronto to maintain economic stimulus programs.
Chancellor of the Exchequer George Osborne’s 10-month-old lending plan has disappointed some economists, opening the door for incoming Bank of England Governor Mark Carney to put his stamp on loan-creating policies.