Well, they went and did it. Yes, Congress kicked the can again and raised the debt ceiling to nearly $20 trillion. The limit is high enough now to last until September 2017, well after Obama has left office. Remember that Obama stated he does not want something that is short-term, he wants only long-term can-kicking for the rest of his presidency.
Rand Paul summed up the current GOP debate nicely, saying “The right’s going to get more military money, the left’s going to get more welfare money. The secret handshake goes on and the American public gets stuck with the bill.”
Bitcoin has been on the move, reaching $330 this week as Chinese trading volume spiked over $1 billion within a 24-hour window. Growth has explicitly returned to the cryptocurrency sector as infrastructure is continuing to be built out.
The S&P credit rating agency actually lowered Saudi Arabia’s credit worthiness score to double-A negative, citing longer depressed crude prices and their increasing fiscal deficit as concerns. They’re looking at the first fiscal deficit in years, that’s a mere 20% of their entire GDP.