US faces record borrowing requirement
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The federal government, running record budget deficits over the past two years, is projecting that it will have to borrow a record $147 billion in the first three months of 2005, the Treasury Department announced Monday.
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The U.S. House of Representatives on Thursday prepared to raise the nation's debt ceiling by &#36;800 billion, taking the new limit to &#36;8.184 trillion.
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President Bush's weekend campaign promise that he will push legislation allowing for no money down on some federally insured mortgages could cost taxpayers as much as $500 million over four years because of a higher rate of defaults, according to the Congressional Budget Office.
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The White House conceded Monday it will likely have to borrow money to pay for the president&#39;s proposal to create private accounts for younger workers to revamp Social Security.
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The Fed unveils guidance for lenders that asks them to work with borrowers to avoid defaults.
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Current account deficit hits record high as credit crunch knocks tax receipts from the City
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UK, US, Swiss, Europeans and Canadians take unprecedented action to ease credit crisis
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WASHINGTON -- The Federal Reserve is providing $20 billion in loans to banks as part of an unprecedented auction process to ease a global credit crisis and make sure financial institutions can keep lending to their customers.
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Home foreclosures have set a record in the face of a Fed request to avoid taking homes.
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Pressure is mounting for the US government to act soon to prevent a recession.
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The federal deficit of the US government hit a record high of 436.9 billion US dollars in the first 11 months of fiscal year of 2004 which will end in this month, the Treasury Department reported on Monday.
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Top U.S. tax preparer H&R Block Inc  said on Thursday the borrowing capacity under its committed lines of credit might not be sufficient to meet its financing needs and it might need to issue added debt or equity securities to meet future requirements.
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NEW YORK/LONDON  - New evidence of damage wrought by the U.S. mortgage sector surfaced in the United States and Europe on Wednesday while banks demanded a record amount of cash at a euro zone money market auction.
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WASHINGTON Nov 18, 2004 - Congress sent President Bush an $800 billion boost in the federal borrowing limit on Thursday, spotlighting how the budget has lurched out of control in recent years and how hard it will be to afford future initiatives.
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WASHINGTON - The US trade deficit continues to swell to new records, hitting $55.5 billion US in October. The US Commerce Department said Tuesday that the trade deficit grew by 8.9 per cent from September, even
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The Federal Reserve is providing the loans as part of an unprecedented auction process to ease a global credit crisis and make sure financial institutions can keep lending to customers.
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THE PROBLEM: Social Security faces a &#36;3.7 trillion shortfall over 75 years.