Pantheon Macroeconomics - The two-year budget deal agreed between the administration and the Republican leadership in Congress will avert a federal debt default and appears to constitute a modest near-term easing of fiscal policy. The debt ceiling will not be raised, but the law imposing the limit will be suspended through March 2017, leaving the Treasury free to borrow as much as necessary to cover the deficit. As a result, the presidential election next year will not be fought against a backdrop of fiscal crisis.

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28 Oct. 2015 Budget Deal Means Fiscal Policy Will Ease Slightly Next Year

By Ian Shepherdson

The two-year budget deal agreed between the administration and the Republican leadership in Congress will avert a federal debt default and appears to constitute a modest near-term easing of fiscal policy. The debt ceiling will not be raised, but the law imposing the limit will be suspended through March 2017, leaving the Treasury free to borrow as much as necessary to cover the deficit. As a result, the presidential election next year will not be fought against a backdrop of fiscal crisis.

Posted: 28th Oct 2015 in 'U.S. Documents'

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Keywords for: U.S. Documents | 28 Oct. 2015 Budget Deal Means Fiscal Policy Will Ease Slightly Next Year

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