Content Tagged As borrowing

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  • Citizens borrowing plan stalls in Bond Commission

    March 21, 2013 2:13 PM

    BATON ROUGE- A decision on whether the state's property insurer of last resort should borrow $100 million to help close an anticipated budget gap has stalled in the Bond Commission. The commission, which includes lawmakers and statewide elected officials, didn't take any action today on the request from the board... more »
  • Congress passes bill to extend borrowing authority

    February 1, 2013 2:51 AM

    WASHINGTON - Congress has approved must-do legislation to permit the government to borrow hundreds of billions of dollars more to meet its obligations, averting a first-ever government default that had loomed as early as mid-February. The 64-34 vote in the Senate on Thursday sends the measure to President Barack Obama,... more »
  • Senate to clear debt limit increase for Obama

    January 31, 2013 6:32 AM

    WASHINGTON - The Senate is poised to permit the government to borrow hundreds of billions of dollars more to meet its obligations, putting off one Washington showdown even as others loom in coming weeks. The measure would suspend the $16.4 trillion limit on federal borrowing through May 18, allowing an... more »
  • House passes bill to defuse debt crisis

    January 23, 2013 12:29 PM

    WASHINGTON (AP) - The House has passed a bill to permit the government to borrow enough money to avoid a first avoid default for at least four months, defusing a crisis looming next month and setting the stage for a springtime debate over taxes, spending and the deficit. The House... more »
  • House GOP seeks to defuse debt crisis

    January 23, 2013 6:56 AM

    WASHINGTON - House Republicans are moving to try to defuse a potential debt crisis with legislation to prevent an economy-rattling fiscal crisis for at least three months. The GOP legislation marks a tactical retreat by House GOP leaders, eager to avoid a potential first-ever default on U.S. payment and debt... more »
  • US taps pension fund to avoid passing debt limit

    January 15, 2013 5:46 PM

    WASHINGTON - Treasury Secretary Timothy Geithner says the government has begun borrowing from the federal employee pension fund to keep operating without surpassing its debt limit. Geithner says in a letter to congressional leaders that the move will free up $156 billion in borrowing authority while Congress debates increasing the... more »
  • Geithner: Gov't could pass debt limit by mid-Feb.

    January 14, 2013 4:08 PM

    WASHINGTON - Treasury Secretary Timothy Geithner is telling congressional leaders that the U.S. government will exhaust its borrowing limit as soon as mid-February, earlier than expected. The government reached its $16.4 trillion borrowing limit on Dec. 31, but began using bookkeeping maneuvers to keep from surpassing it. In a letter... more »
  • La. to pay up to $90M to end Superdome bond deal Play Video

    October 18, 2012 2:52 PM

    BATON ROUGE - Louisiana will pay as much as $90 million to get out of a troubled borrowing deal that helped upgrade the Superdome after Hurricane Katrina. The State Bond Commission gave preliminary approval Thursday to a debt refinancing for the Louisiana Stadium and Exposition District that will include the... more »
  • $325M borrowing plan for rural roads near complete

    May 9, 2012 8:01 AM

    BATON ROUGE - A $325 million borrowing plan to repair and upgrade rural roads across Louisiana is near final legislative passage. The proposal by Jonesboro Rep. Jim Fannin is up for a House vote Wednesday. If approved there, it heads to Gov. Bobby Jindal, who supports it. Every parish but... more »
  • Consumer borrowing up, but credit card use falls

    November 7, 2011 2:13 PM

    WASHINGTON - Americans borrowed more in September to buy cars and attend college, but they cut back on using their credit cards for a third straight month. The latest data suggest consumers are being cautious about taking on high-interest debt in the weak economy. The Federal Reserve says total... more »
  • Legislature liable for steel plant borrowing

    August 19, 2011 10:07 AM

    BATON ROUGE - The state Bond Commission has put the Legislature on the hook for repaying $35 million in borrowing for steel producer Nucor Corp. The Advocate reports the commission's action on Thursday means the legislators will have to come up with as much as $975,382 by next summer... more »
  • More Borrowing to keep Government Afloat

    November 1, 2010 7:32 PM

    The Treasury Department has to borrow the second largest amount in history, $362 billion, to cover the current Ocotober-December quarter. Treasury says the amount is actually down from the first estimate because the government ended the budget year in September with $40 billion more on hand than expected. The borrowing... more »

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