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United States debt-ceiling crisis of 2011

Index United States debt-ceiling crisis of 2011

The United States debt-ceiling crisis of 2011 was a stage in the ongoing political debate in the United States Congress about the appropriate level of government spending and its effect on the national debt and deficit. [1]

179 relations: ABC News (Australia), Aggregate demand, Allen West (politician), American Revolutionary War, Appropriation bill, Articles of Confederation, Associated Press, Australian Securities Exchange, Balanced budget, Balanced Budget Act of 1997, Balanced budget amendment, Bank run, Barack Obama, Barclays Investment Bank, Baseline (budgeting), Benjamin Wade, Bill Clinton, Bill H. Gross, Bipartisan Policy Center, Brinkmanship, Bruce Bartlett, Budget Control Act of 2011, Bush tax cuts, Capital market, CBS News, Chicken (game), Civil Service Retirement System, Congressional Budget Office, Constitutional amendment, Credit card, Credit default swap, Credit limit, Cut, Cap and Balance Act, Default (finance), Democratic Party (United States), Denmark, Douglas Holtz-Eakin, Dow Jones Industrial Average, Eric Cantor, European debt crisis, Executive (government), Executive order, Federal Deposit Insurance Corporation, Federal Reserve Bank, Federal Reserve Bank of New York, Federal Reserve System, Filibuster, Finance minister, Financial crisis of 2007–2008, Financial market, ..., Financial repression, First Amendment to the United States Constitution, Fiscal year, Fitch Ratings, Garrett Epps, George Madison, George W. Bush, Globalization, Gold certificate, Government Accountability Office, Great Recession, Greece, Gross domestic product, Group of Seven, Harry Reid, Harry S. Truman, Harvard Law School, History of United States debt ceiling, HuffPost, Iceland, Inflation, International community, International Monetary Fund, Italy, J. Bradford DeLong, Jack Balkin, Jamaica, Jefferies Group, Jim DeMint, Joe Biden, John Boehner, Jon Kyl, Julia Gillard, Katrina vanden Heuvel, Laurence Tribe, Lawrence Summers, Lebanon, Liquidity trap, Los Angeles Times, Matthew Yglesias, Medicaid, Medicare (United States), Michele Bachmann, Mike Lee (American politician), Mitch McConnell, Monetization, Money market, Moody's Investors Service, Mortgage-backed security, Mutual fund, NASDAQ, National Commission on Fiscal Responsibility and Reform, National Credit Union Administration, National debt of the United States, National Journal, New York Daily News, New York Stock Exchange, News World Communications, Newsmax Media, NPR, Office of the Comptroller of the Currency, Party leaders of the United States House of Representatives, Party leaders of the United States Senate, Party platform, Pat Toomey, Paul Krugman, Pension, Politico, Power of the purse, Presidency of Dwight D. Eisenhower, Press release, Price of oil, Primary dealer, Quantitative easing, Rand Paul, Reconstruction era, Republican Party (United States), Risk-based pricing, Risk-free interest rate, Ron Paul, Ronald Reagan, S&P 100, Seigniorage, Slate (magazine), Slavery, Social Security (United States), Sovereign default, Speaker of the United States House of Representatives, Standard & Poor's, Stock market crash, Stock market index, Talking Points Memo, Tax reform, Tea Party Caucus, Tea Party movement, The Economist, The Fiscal Times, The Hill (newspaper), The Nation, The New Republic, The New York Times, The Path to Prosperity, The Washington Post, The Washington Times, Thrift Savings Plan, Timothy Geithner, Tom Coburn, Trillion dollar coin, United States Congress, United States Congress Joint Select Committee on Deficit Reduction, United States debt ceiling, United States debt-ceiling crisis of 2013, United States Department of the Treasury, United States elections, 2010, United States federal government credit-rating downgrades, United States federal government shutdowns of 1995–1996, United States fiscal cliff, United States House of Representatives, United States housing bubble, United States Secretary of the Treasury, United States Treasury security, University of Montana, Wall Street, World currency, Xinhua News Agency, Yale Law School, 111th United States Congress, 112th United States Congress, 2011 United States federal budget. Expand index (129 more) »

ABC News (Australia)

ABC News is a national news service in Australia produced by the News and Current Affairs division of the Australian Broadcasting Corporation.

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Aggregate demand

In macroeconomics, aggregate demand (AD) or domestic final demand (DFD) is the total demand for final goods and services in an economy at a given time.

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Allen West (politician)

Allen Bernard West (born February 7, 1961) is an American political commentator, retired U.S. Army Lieutenant Colonel, and former member of the U.S. House of Representatives.

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American Revolutionary War

The American Revolutionary War (17751783), also known as the American War of Independence, was a global war that began as a conflict between Great Britain and its Thirteen Colonies which declared independence as the United States of America. After 1765, growing philosophical and political differences strained the relationship between Great Britain and its colonies. Patriot protests against taxation without representation followed the Stamp Act and escalated into boycotts, which culminated in 1773 with the Sons of Liberty destroying a shipment of tea in Boston Harbor. Britain responded by closing Boston Harbor and passing a series of punitive measures against Massachusetts Bay Colony. Massachusetts colonists responded with the Suffolk Resolves, and they established a shadow government which wrested control of the countryside from the Crown. Twelve colonies formed a Continental Congress to coordinate their resistance, establishing committees and conventions that effectively seized power. British attempts to disarm the Massachusetts militia at Concord, Massachusetts in April 1775 led to open combat. Militia forces then besieged Boston, forcing a British evacuation in March 1776, and Congress appointed George Washington to command the Continental Army. Concurrently, an American attempt to invade Quebec and raise rebellion against the British failed decisively. On July 2, 1776, the Continental Congress voted for independence, issuing its declaration on July 4. Sir William Howe launched a British counter-offensive, capturing New York City and leaving American morale at a low ebb. However, victories at Trenton and Princeton restored American confidence. In 1777, the British launched an invasion from Quebec under John Burgoyne, intending to isolate the New England Colonies. Instead of assisting this effort, Howe took his army on a separate campaign against Philadelphia, and Burgoyne was decisively defeated at Saratoga in October 1777. Burgoyne's defeat had drastic consequences. France formally allied with the Americans and entered the war in 1778, and Spain joined the war the following year as an ally of France but not as an ally of the United States. In 1780, the Kingdom of Mysore attacked the British in India, and tensions between Great Britain and the Netherlands erupted into open war. In North America, the British mounted a "Southern strategy" led by Charles Cornwallis which hinged upon a Loyalist uprising, but too few came forward. Cornwallis suffered reversals at King's Mountain and Cowpens. He retreated to Yorktown, Virginia, intending an evacuation, but a decisive French naval victory deprived him of an escape. A Franco-American army led by the Comte de Rochambeau and Washington then besieged Cornwallis' army and, with no sign of relief, he surrendered in October 1781. Whigs in Britain had long opposed the pro-war Tories in Parliament, and the surrender gave them the upper hand. In early 1782, Parliament voted to end all offensive operations in North America, but the war continued in Europe and India. Britain remained under siege in Gibraltar but scored a major victory over the French navy. On September 3, 1783, the belligerent parties signed the Treaty of Paris in which Great Britain agreed to recognize the sovereignty of the United States and formally end the war. French involvement had proven decisive,Brooks, Richard (editor). Atlas of World Military History. HarperCollins, 2000, p. 101 "Washington's success in keeping the army together deprived the British of victory, but French intervention won the war." but France made few gains and incurred crippling debts. Spain made some minor territorial gains but failed in its primary aim of recovering Gibraltar. The Dutch were defeated on all counts and were compelled to cede territory to Great Britain. In India, the war against Mysore and its allies concluded in 1784 without any territorial changes.

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Appropriation bill

An appropriation bill, also known as supply bill or spending bill, is proposed law that authorizes the expenditure of government funds.

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Articles of Confederation

The Articles of Confederation, formally the Articles of Confederation and Perpetual Union, was an agreement among the 13 original states of the United States of America that served as its first constitution.

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Associated Press

The Associated Press (AP) is a U.S.-based not-for-profit news agency headquartered in New York City.

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Australian Securities Exchange

The Australian Securities Exchange (ASX, sometimes referred to outside Australia as the Sydney Stock Exchange) is Australia's primary securities exchange.

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Balanced budget

A balanced budget (particularly that of a government) is a budget in which revenues are equal to expenditures.

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Balanced Budget Act of 1997

The Balanced Budget Act of 1997,, was an omnibus legislative package enacted by the United States Congress, using the budget reconciliation process, and designed to balance the federal budget by 2002.

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Balanced budget amendment

A balanced budget amendment is a constitutional rule requiring that a state cannot spend more than its income.

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Bank run

A bank run (also known as a run on the bank) occurs when a large number of people withdraw their money from a bank, because they believe the bank may cease to function in the near future.

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Barack Obama

Barack Hussein Obama II (born August 4, 1961) is an American politician who served as the 44th President of the United States from January 20, 2009, to January 20, 2017.

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Barclays Investment Bank

Barclays Investment Bank (formerly known as Barclays Capital) is a British multinational investment bank under the auspices of Barclays headquartered in London.

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Baseline (budgeting)

Baseline budgeting is an accounting method the United States Federal Government uses to develop a budget for future years.

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Benjamin Wade

Benjamin Franklin "Bluff" Wade (October 27, 1800March 2, 1878) was an American politician who served as one of the two United States Senators from Ohio from 1851 to 1869.

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Bill Clinton

William Jefferson Clinton (born August 19, 1946) is an American politician who served as the 42nd President of the United States from 1993 to 2001.

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Bill H. Gross

William Hunt Gross (born April 13, 1944) is an American investor, fund manager, and philanthropist.

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Bipartisan Policy Center

The Bipartisan Policy Center (BPC) is an American non-profit organization that combines the best ideas from both parties to promote health, security, and opportunity for all Americans.

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Brinkmanship

Brinkmanship (also brinksmanship) is the practice of trying to achieve an advantageous outcome by pushing dangerous events to the brink of active conflict.

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Bruce Bartlett

Bruce Reeves Bartlett (born October 11, 1951) is an American historian whose area of expertise is supply-side economics.

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Budget Control Act of 2011

The Budget Control Act of 2011 is a federal statute enacted by the 112th United States Congress and signed into law by US President Barack Obama on August 2, 2011.

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Bush tax cuts

The phrase Bush tax cuts refers to changes to the United States tax code passed originally during the presidency of George W. Bush and extended during the presidency of Barack Obama, through.

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Capital market

A capital market is a financial market in which long-term debt (over a year) or equity-backed securities are bought and sold.

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CBS News

CBS News is the news division of American television and radio service CBS.

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Chicken (game)

The game of chicken, also known as the hawk–dove game or snowdrift game, is a model of conflict for two players in game theory.

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Civil Service Retirement System

The Civil Service Retirement System (CSRS) was organized in 1920 and has provided retirement, disability, and survivor benefits for most civilian employees in the United States federal government.

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Congressional Budget Office

The Congressional Budget Office (CBO) is a federal agency within the legislative branch of the United States government that provides budget and economic information to Congress.

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Constitutional amendment

A constitutional amendment is a modification of the constitution of a nation or state.

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Credit card

A credit card is a payment card issued to users (cardholders) to enable the cardholder to pay a merchant for goods and services based on the cardholder's promise to the card issuer to pay them for the amounts so paid plus the other agreed charges.

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Credit default swap

A credit default swap (CDS) is a financial swap agreement that the seller of the CDS will compensate the buyer in the event of a debt default (by the debtor) or other credit event.

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Credit limit

A credit limit is the maximum amount of credit that a financial institution or other lender will extend to a debtor for a particular line of credit (sometimes called a credit line, line of credit, or a tradeline).

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Cut, Cap and Balance Act

The proposed Cut, Cap and Balance Act of 2011 (or HR 2560) was a bill put forward in the 112th United States Congress by Republicans during the 2011 U.S. debt ceiling crisis.

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Default (finance)

In finance, default is failure to meet the legal obligations (or conditions) of a loan, for example when a home buyer fails to make a mortgage payment, or when a corporation or government fails to pay a bond which has reached maturity.

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Democratic Party (United States)

The Democratic Party is one of the two major contemporary political parties in the United States, along with the Republican Party (nicknamed the GOP for Grand Old Party).

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Denmark

Denmark (Danmark), officially the Kingdom of Denmark,Kongeriget Danmark,.

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Douglas Holtz-Eakin

Douglas James "Doug" Holtz-Eakin (born February 3, 1958) is an American economist.

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Dow Jones Industrial Average

The Dow Jones Industrial Average (DJIA), or simply the Dow, is a stock market index that shows how 30 large, publicly owned companies based in the United States have traded during a standard trading session in the stock market.

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Eric Cantor

Eric Ivan Cantor (born June 6, 1963) is an American politician, lawyer, and banker, who served as the United States representative for Virginia's 7th congressional district from 2001 until 2014.

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European debt crisis

The European debt crisis (often also referred to as the Eurozone crisis or the European sovereign debt crisis) is a multi-year debt crisis that has been taking place in the European Union since the end of 2009.

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Executive (government)

The executive is the organ exercising authority in and holding responsibility for the governance of a state.

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Executive order

In the United States, an executive order is a directive issued by the President of the United States that manages operations of the federal government and has the force of law.

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Federal Deposit Insurance Corporation

The Federal Deposit Insurance Corporation (FDIC) is a United States government corporation providing deposit insurance to depositors in U.S. commercial banks and savings institutions.

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Federal Reserve Bank

A Federal Reserve Bank is a regional bank of the Federal Reserve System, the central banking system of the United States.

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Federal Reserve Bank of New York

The Federal Reserve Bank of New York is one of the 12 Federal Reserve Banks of the United States.

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Federal Reserve System

The Federal Reserve System (also known as the Federal Reserve or simply the Fed) is the central banking system of the United States of America.

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Filibuster

A filibuster is a political procedure where one or more members of parliament or congress debate over a proposed piece of legislation so as to delay or entirely prevent a decision being made on the proposal.

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Finance minister

A finance minister is an executive or cabinet position in charge of one or more of government finances, economic policy and financial regulation.

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Financial crisis of 2007–2008

The financial crisis of 2007–2008, also known as the global financial crisis and the 2008 financial crisis, is considered by many economists to have been the worst financial crisis since the Great Depression of the 1930s.

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Financial market

A financial market is a market in which people trade financial securities and derivatives such as futures and options at low transaction costs.

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Financial repression

Financial repression comprises "policies that result in savers earning returns below the rate of inflation" in order to allow banks to "provide cheap loans to companies and governments, reducing the burden of repayments".

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First Amendment to the United States Constitution

The First Amendment (Amendment I) to the United States Constitution prevents Congress from making any law respecting an establishment of religion, prohibiting the free exercise of religion, or abridging the freedom of speech, the freedom of the press, the right to peaceably assemble, or to petition for a governmental redress of grievances.

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Fiscal year

A fiscal year (or financial year, or sometimes budget year) is the period used by governments for accounting and budget purposes, which vary between countries.

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Fitch Ratings

Fitch Ratings Inc.

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Garrett Epps

Garrett Epps (born 1950 in Richmond, Virginia) is an American legal scholar, novelist, and journalist.

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George Madison

George Madison (June 1763 – October 14, 1816) was the sixth Governor of Kentucky.

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George W. Bush

George Walker Bush (born July 6, 1946) is an American politician who served as the 43rd President of the United States from 2001 to 2009.

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Globalization

Globalization or globalisation is the process of interaction and integration between people, companies, and governments worldwide.

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Gold certificate

A gold certificate in general is a certificate of ownership that gold owners hold instead of storing the actual gold.

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Government Accountability Office

The Government Accountability Office (GAO) is a legislative branch government agency that provides auditing, evaluation, and investigative services for the United States Congress.

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Great Recession

The Great Recession was a period of general economic decline observed in world markets during the late 2000s and early 2010s.

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Greece

No description.

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Gross domestic product

Gross domestic product (GDP) is a monetary measure of the market value of all final goods and services produced in a period (quarterly or yearly) of time.

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Group of Seven

The Group of Seven (G7) is a group consisting of Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States.

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Harry Reid

Harry Mason Reid (born December 2, 1939) is a retired American politician who served as a United States Senator from Nevada from 1987 to 2017.

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Harry S. Truman

Harry S. Truman (May 8, 1884 – December 26, 1972) was an American statesman who served as the 33rd President of the United States (1945–1953), taking office upon the death of Franklin D. Roosevelt.

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Harvard Law School

Harvard Law School (also known as Harvard Law or HLS) is one of the professional graduate schools of Harvard University located in Cambridge, Massachusetts.

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History of United States debt ceiling

The history of United States debt ceiling deals with movements in the United States debt ceiling since it was created in 1917.

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HuffPost

HuffPost (formerly The Huffington Post and sometimes abbreviated HuffPo) is a liberal American news and opinion website and blog that has both localized and international editions.

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Iceland

Iceland is a Nordic island country in the North Atlantic, with a population of and an area of, making it the most sparsely populated country in Europe.

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Inflation

In economics, inflation is a sustained increase in price level of goods and services in an economy over a period of time.

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International community

The international community is a phrase used in geopolitics and international relations to refer to a broad group of people and governments of the world.

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International Monetary Fund

The International Monetary Fund (IMF) is an international organization headquartered in Washington, D.C., consisting of "189 countries working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world." Formed in 1945 at the Bretton Woods Conference primarily by the ideas of Harry Dexter White and John Maynard Keynes, it came into formal existence in 1945 with 29 member countries and the goal of reconstructing the international payment system.

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Italy

Italy (Italia), officially the Italian Republic (Repubblica Italiana), is a sovereign state in Europe.

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J. Bradford DeLong

James Bradford "Brad" DeLong (born June 24, 1960) is an economic historian who is professor of Economics at the University of California, Berkeley.

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Jack Balkin

Jack M. Balkin (born August 13, 1956) is an American legal scholar.

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Jamaica

Jamaica is an island country situated in the Caribbean Sea.

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Jefferies Group

Jefferies Group LLC is an American multinational investment bank and financial services company that is headquartered in New York City.

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Jim DeMint

James Warren DeMint (born September 2, 1951) is an American writer and retired politician who served as a United States Senator from South Carolina from 2005 to 2013.

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Joe Biden

Joseph Robinette Biden Jr. (born November 20, 1942) is an American politician who served as the 47th Vice President of the United States from 2009 to 2017.

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John Boehner

John Andrew Boehner (born, 1949) is an American politician who served as the 53rd Speaker of the United States House of Representatives from 2011 to 2015.

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Jon Kyl

Jon Llewellyn Kyl (born April 25, 1942) is an American attorney and politician.

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Julia Gillard

Julia Eileen Gillard (born 29 September 1961) is a retired Australian politician who served as the 27th Prime Minister of Australia and Leader of the Australian Labor Party from 2010 to 2013.

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Katrina vanden Heuvel

Katrina vanden Heuvel (born October 7, 1959) is an American editor and publisher.

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Laurence Tribe

Laurence Henry "Larry" Tribe (born October 10, 1941) is a Chinese-born American lawyer and scholar who is the Carl M. Loeb University Professor at the Harvard Law School in Harvard University.

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Lawrence Summers

Lawrence Henry Summers (born November 30, 1954) is an American economist, former Vice President of Development Economics and Chief Economist of the World Bank (1991–93),, Data & Research office, The World Bank, retrieved March 31, 2017, World Bank Live, The World Bank, retrieved March 31, 2017 Harvard Kennedy School, Harvard University, retrieved March 31, 2017 senior U.S. Treasury Department official throughout President Clinton's administration (ultimately Treasury Secretary, 1999–2001), U.S. Treasury Department, Last Updated: 11/20/2010, retrieved March 31, 2017 and former director of the National Economic Council for President Obama (2009–2010).

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Lebanon

Lebanon (لبنان; Lebanese pronunciation:; Liban), officially known as the Lebanese RepublicRepublic of Lebanon is the most common phrase used by Lebanese government agencies.

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Liquidity trap

A liquidity trap is a situation, described in Keynesian economics, in which, "after the rate of interest has fallen to a certain level, liquidity preference may become virtually absolute in the sense that almost everyone prefers cash holding a debt which yields so low a rate of interest."Keynes, John Maynard (1936) The General Theory of Employment, Interest and Money, United Kingdom: Palgrave Macmillan, 2007 edition, A liquidity trap is caused when people hoard cash because they expect an adverse event such as deflation, insufficient aggregate demand, or war.

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Los Angeles Times

The Los Angeles Times is a daily newspaper which has been published in Los Angeles, California since 1881.

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Matthew Yglesias

Matthew Yglesias (born May 18, 1981) is an American blogger and journalist who writes about economics and politics from a liberal perspective.

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Medicaid

Medicaid in the United States is a joint federal and state program that helps with medical costs for some people with limited income and resources.

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Medicare (United States)

In the United States, Medicare is a national health insurance program, now administered by the Centers for Medicaid and Medicare Services of the U.S. federal government but begun in 1966 under the Social Security Administration.

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Michele Bachmann

Michele Marie Bachmann (née Amble; April 6, 1956) is an American politician.

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Mike Lee (American politician)

Michael Shumway Lee (born June 4, 1971) is an American politician, author, and attorney who is the junior United States Senator from Utah.

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Mitch McConnell

Addison Mitchell McConnell Jr. (born February 20, 1942) is an American politician who has served as the senior United States Senator from Kentucky since 1985.

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Monetization

Monetization (also written monetisation) is the process of converting or establishing something into legal tender.

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Money market

As money became a commodity, the money market became a component of the financial markets for assets involved in short-term borrowing, lending, buying and selling with original maturities of one year or less.

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Moody's Investors Service

Moody's Investors Service, often referred to as Moody's, is the bond credit rating business of Moody's Corporation, representing the company's traditional line of business and its historical name.

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Mortgage-backed security

A mortgage-backed security (MBS) is a type of asset-backed security that is secured by a mortgage or collection of mortgages.

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Mutual fund

A mutual fund is a professionally managed investment fund that pools money from many investors to purchase securities.

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NASDAQ

The Nasdaq Stock Market is an American stock exchange.

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National Commission on Fiscal Responsibility and Reform

The National Commission on Fiscal Responsibility and Reform (often called Simpson-Bowles or Bowles-Simpson from the names of co-chairs Alan Simpson and Erskine Bowles; or NCFRR) is a Presidential Commission created in 2010 by President Barack Obama to identify "policies to improve the fiscal situation in the medium term and to achieve fiscal sustainability over the long run".

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National Credit Union Administration

The National Credit Union Administration (NCUA) is the independent federal agency created by the United States Congress to regulate, charter, and supervise federal credit unions.

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National debt of the United States

The national debt of the United States is the public debt carried by the federal government of the United States, which is measured as the face value of the currently outstanding Treasury securities that have been issued by the Treasury and other federal government agencies.

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National Journal

National Journal is a research and advisory services company based in Washington, D.C. offering services in government affairs, advocacy communications and policy brands research for government and business leaders.

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New York Daily News

The New York Daily News, officially titled Daily News, is an American newspaper based in New York City.

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New York Stock Exchange

The New York Stock Exchange (abbreviated as NYSE, and nicknamed "The Big Board"), is an American stock exchange located at 11 Wall Street, Lower Manhattan, New York City, New York.

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News World Communications

News World Communications Inc. is an international news media corporation.

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Newsmax Media

Newsmax Media is an American news media organization founded by Christopher Ruddy and based in West Palm Beach, Florida.

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NPR

National Public Radio (usually shortened to NPR, stylized as npr) is an American privately and publicly funded non-profit membership media organization based in Washington, D.C. It serves as a national syndicator to a network of over 1,000 public radio stations in the United States.

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Office of the Comptroller of the Currency

The Office of the Comptroller of the Currency (OCC) is an independent bureau within the United States Department of the Treasury that was established by the National Currency Act of 1863 and serves to charter, regulate, and supervise all national banks and thrift institutions and the federal branches and agencies of foreign banks in the United States.

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Party leaders of the United States House of Representatives

Party leaders and whips of the United States House of Representatives, also known as floor leaders, are elected by their respective parties in a closed-door caucus by secret ballot.

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Party leaders of the United States Senate

The Senate Majority and Minority Leaders are two United States Senators and members of the party leadership of the United States Senate.

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Party platform

A political party platform or program is a formal set of principle goals which are supported by a political party or individual candidate, in order to appeal to the general public, for the ultimate purpose of garnering the general public's support and votes about complicated topics or issues.

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Pat Toomey

Patrick Joseph Toomey (born November 17, 1961) is an American businessman and politician serving as the junior United States Senator for Pennsylvania, elected in 2010.

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Paul Krugman

Paul Robin Krugman (born February 28, 1953) is an American economist who is currently Distinguished Professor of Economics at the Graduate Center of the City University of New York, and a columnist for The New York Times.

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Pension

A pension is a fund into which a sum of money is added during an employee's employment years, and from which payments are drawn to support the person's retirement from work in the form of periodic payments.

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Politico

Politico, known earlier as The Politico, is an American political journalism company based in Arlington County, Virginia, that covers politics and policy in the United States and internationally.

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Power of the purse

The power of the purse is the ability of one group to manipulate and control the actions of another group by withholding funding, or putting stipulations on the use of funds.

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Presidency of Dwight D. Eisenhower

The presidency of Dwight D. Eisenhower began on January 20, 1953, when he was inaugurated as the 34th President of the United States, and ended on January 20, 1961.

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Press release

A press release, news release, media release, press statement or video release is a written or recorded communication directed at members of the news media for the purpose of announcing something ostensibly newsworthy.

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Price of oil

The price of oil, or the oil price, (generally) refers to the spot price of a barrel of benchmark crude oil—a reference price for buyers and sellers of crude oil such as West Texas Intermediate (WTI), Brent ICE, Dubai Crude, OPEC Reference Basket, Tapis Crude, Bonny Light, Urals oil, Isthmus and Western Canadian Select (WCS).

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Primary dealer

A primary dealer is a firm that buys government securities directly from a government, with the intention of reselling them to others, thus acting as a market maker of government securities.

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Quantitative easing

Quantitative easing (QE), also known as large-scale asset purchases, is an expansionary monetary policy whereby a central bank buys predetermined amounts of government bonds or other financial assets in order to stimulate the economy and increase liquidity.

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Rand Paul

Randal Howard "Rand" Paul (born January 7, 1963) is an American politician and physician serving as the junior United States Senator from Kentucky since 2011, alongside Majority Leader Mitch McConnell.

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Reconstruction era

The Reconstruction era was the period from 1863 (the Presidential Proclamation of December 8, 1863) to 1877.

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Republican Party (United States)

The Republican Party, also referred to as the GOP (abbreviation for Grand Old Party), is one of the two major political parties in the United States, the other being its historic rival, the Democratic Party.

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Risk-based pricing

Risk-based pricing is a methodology adopted by many lenders in the mortgage and financial services industries.

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Risk-free interest rate

The risk-free interest rate is the rate of return of a hypothetical investment with no risk of financial loss, over a given period of time.

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Ron Paul

Ronald Ernest Paul (born August 20, 1935) is an American author, physician and retired politician who served as the U.S. Representative for Texas's 22nd congressional district from 1976 to 1977 and again from 1979 to 1985, and for Texas's 14th congressional district from 1997 to 2013.

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Ronald Reagan

Ronald Wilson Reagan (February 6, 1911 – June 5, 2004) was an American politician and actor who served as the 40th President of the United States from 1981 to 1989.

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S&P 100

The S&P 100 Index is a stock market index of United States stocks maintained by Standard & Poor's.

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Seigniorage

Seigniorage, also spelled seignorage or seigneurage (from Old French seigneuriage "right of the lord (seigneur) to mint money"), is the difference between the value of money and the cost to produce and distribute it.

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Slate (magazine)

Slate is an online magazine that covers current affairs, politics, and culture in the United States from a liberal perspective.

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Slavery

Slavery is any system in which principles of property law are applied to people, allowing individuals to own, buy and sell other individuals, as a de jure form of property.

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Social Security (United States)

In the United States, Social Security is the commonly used term for the federal Old-Age, Survivors, and Disability Insurance (OASDI) program and is administered by the Social Security Administration.

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Sovereign default

A sovereign default is the failure or refusal of the government of a sovereign state to pay back its debt in full.

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Speaker of the United States House of Representatives

The Speaker of the House is the presiding officer of the United States House of Representatives.

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Standard & Poor's

Standard & Poor's Financial Services LLC (S&P) is an American financial services company.

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Stock market crash

A stock market crash is a sudden dramatic decline of stock prices across a significant cross-section of a stock market, resulting in a significant loss of paper wealth.

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Stock market index

A stock index or stock market index is a measurement of a section of the stock market.

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Talking Points Memo

Talking Points Memo (or TPM) is a web-based political journalism website created and run by Josh Marshall that debuted on November 12, 2000.

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Tax reform

Tax reform is the process of changing the way taxes are collected or managed by the government and is usually undertaken to improve tax administration or to provide economic or social benefits.

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Tea Party Caucus

The Tea Party Caucus (TPC) was a congressional caucus of conservative members of the Republican Party in the United States House of Representatives.

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Tea Party movement

The Tea Party movement is an American conservative movement within the Republican Party.

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The Economist

The Economist is an English-language weekly magazine-format newspaper owned by the Economist Group and edited at offices in London.

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The Fiscal Times

The Fiscal Times (TFT) is an English-language digital news, news analysis and opinion publication based in New York City and Washington, D.C..

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The Hill (newspaper)

The Hill is an American political newspaper and website published in Washington, D.C. since 1994.

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The Nation

The Nation is the oldest continuously published weekly magazine in the United States, and the most widely read weekly journal of progressive political and cultural news, opinion, and analysis.

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The New Republic

The New Republic is a liberal American magazine of commentary on politics and the arts, published since 1914, with influence on American political and cultural thinking.

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The New York Times

The New York Times (sometimes abbreviated as The NYT or The Times) is an American newspaper based in New York City with worldwide influence and readership.

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The Path to Prosperity

The Path to Prosperity: Restoring America's Promise was the Republican Party's budget proposal for the Federal government of the United States in the fiscal year 2012.

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The Washington Post

The Washington Post is a major American daily newspaper founded on December 6, 1877.

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The Washington Times

The Washington Times is an American daily newspaper that covers general interest topics with a particular emphasis on American politics.

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Thrift Savings Plan

The Thrift Savings Plan (TSP) is a defined contribution plan for United States civil service employees and retirees as well as for members of the uniformed services.

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Timothy Geithner

Timothy Franz Geithner (born August 18, 1961) is a former American central banker who served as the 75th United States Secretary of the Treasury under President Barack Obama from 2009 to 2013.

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Tom Coburn

Thomas Allen Coburn (born March 14, 1948) is an American politician and medical doctor.

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Trillion dollar coin

The trillion dollar coin is a concept that emerged during the United States debt-ceiling crisis in 2011, as a proposed way to bypass any necessity for the United States Congress to raise the country's borrowing limit, through the minting of very high-value platinum coins.

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United States Congress

The United States Congress is the bicameral legislature of the Federal government of the United States.

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United States Congress Joint Select Committee on Deficit Reduction

The Joint Select Committee on Deficit Reduction,Budget Control Act of 2011,, Title IV colloquially referred to as the Supercommittee, was a joint select committee of the United States Congress, created by the Budget Control Act of 2011 on August 2, 2011.

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United States debt ceiling

The United States debt ceiling or debt limit is a legislative limit on the amount of national debt that can be incurred by the US Treasury, thus limiting how much money the federal government may borrow.

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United States debt-ceiling crisis of 2013

The 2013 United States debt-ceiling crisis centered on the raising of the federal government debt ceiling, and is part of an ongoing political debate in the United States Congress about federal government spending and the national debt.

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United States Department of the Treasury

The Department of the Treasury (USDT) is an executive department and the treasury of the United States federal government.

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United States elections, 2010

The 2010 United States elections were held on Tuesday, November 2, 2010, in the middle of Democratic President Barack Obama's first term.

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United States federal government credit-rating downgrades

Several credit rating agencies around the world have downgraded their credit ratings of the U.S. federal government, including Standard & Poor's (S&P) which reduced the country's rating from AAA (outstanding) to AA+ (excellent) on August 5, 2011.

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United States federal government shutdowns of 1995–1996

The United States federal government shutdowns of 1995 and 1995–96 were the result of conflicts between Democratic President Bill Clinton and the Republican Congress over funding for Medicare, education, the environment, and public health in the 1996 federal budget.

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United States fiscal cliff

The United States fiscal cliff was a situation that took place in January 2013 when several previously-enacted laws came into effect simultaneously, increasing taxes and decreasing spending.

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United States House of Representatives

The United States House of Representatives is the lower chamber of the United States Congress, the Senate being the upper chamber.

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United States housing bubble

The United States housing bubble was a real estate bubble affecting over half of the U.S. states.

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United States Secretary of the Treasury

The Secretary of the Treasury is the head of the U.S. Department of the Treasury which is concerned with financial and monetary matters, and, until 2003, also included several federal law enforcement agencies.

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United States Treasury security

A United States Treasury security is an IOU from the US Government.

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University of Montana

The University of Montana (often simply referred to as UM) is a public research university in Missoula, Montana, in the United States.

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Wall Street

Wall Street is an eight-block-long street running roughly northwest to southeast from Broadway to South Street, at the East River, in the Financial District of Lower Manhattan in New York City.

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World currency

In the foreign exchange market and international finance, a world currency, supranational currency, or global currency refers to a currency that is transacted internationally, with no set borders.

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Xinhua News Agency

Xinhua News Agency (English pronunciation: J. C. Wells: Longman Pronunciation Dictionary, 3rd ed., for both British and American English) or New China News Agency is the official state-run press agency of the People's Republic of China.

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Yale Law School

Yale Law School (often referred to as Yale Law or YLS) is the law school of Yale University, located in New Haven, Connecticut, United States.

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111th United States Congress

The One Hundred Eleventh United States Congress was a meeting of the legislative branch of the United States federal government from January 3, 2009, until January 3, 2011.

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112th United States Congress

The One Hundred Twelfth United States Congress was a meeting of the legislative branch of the United States federal government, from January 3, 2011, until January 3, 2013.

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2011 United States federal budget

The 2011 United States federal budget was the United States federal budget to fund government operations for the fiscal year 2011.

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Redirects here:

2011 U.S. Debt Ceiling Crisis, 2011 U.S. debt ceiling crisis, 2011 US debt ceiling crisis, 2011 United States debt ceiling crisis, America debt crisis 2011, American debt 2011, American debt ceiling 2011, American debt crisis 2011, American default 2011, U.S debt crisis, U.S. debt crisis, US debt crisis, United States debt-ceiling debate of 2011, Us government default 2011, Usa debt crisis 2011, Usa default 2011.

References

[1] https://en.wikipedia.org/wiki/United_States_debt-ceiling_crisis_of_2011

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