debt ceiling

(Via Flickr/Mandalit)

Hundreds of thousands of government employees went on furlough today, as the federal government began a partial shutdown. Thousands of those employees live and work in the St. Louis region. Meanwhile the debt ceiling deadline looms.

What kind of economic impact will the shutdown and debt ceiling have on the St. Louis region?

St. Louis on the Air host Don Marsh spoke with economist Howard Wall, Colonel Kyle Kremer, Commander of the 375th Air Mobility Wing at Scott Air Force Base, and St. Louis Beacon reporter Jason Rosenbaum to find out.

(Official Portrait/via Wikimedia Commons)

With a deal to avoid drastic spending cuts behind them, members of Congress are gearing up for what could be another grueling round of negotiations over the federal debt-ceiling.

U.S. Sen. Dick Durbin (D-Ill.) says members need to get to the bargaining table early this time.

The number two Democrat in the Senate told CNN’s Candy Crowley Sunday that he really doesn’t want to see a sequel to the so called “fiscal cliff” negotiations.

(via Flickr/Senator Blunt)

Missouri Senator Roy Blunt says the failure of two balanced-budget amendments today shows Senate Democrats aren’t serious about dealing with the deficit.

The defeat of both bills – one from Democrats, one from Republicans – ends the current push to force a yearly balanced budget from Congress.  Blunt, who voted for the Republican-backed bill, says the fact that neither party could pass their amendment speaks to the heart of the Senate’s disfunction. 

(UPI/Bill Greenblatt)

U.S. Senator Claire McCaskill of Missouri says she was embarrassed by the actions of Congress during the recent debt ceiling debate.

McCaskill visited a number of manufacturers around the state this week to learn how to create more jobs and stop work from being shipped overseas. And she says she got an earful from constituents upset with Congress' inability to compromise on extending the debt ceiling.

(St. Louis Public Radio/UPI)

 Both of Missouri’s U.S. senators today supported the emergency bill that averts a first-ever government default. The measure, which was the source of months of contentious and partisan debate, raises the nation’s debt ceiling. Republican Senator Roy Blunt says he voted for the bill because it’s a good first step to rein in federal spending.

Update at 2:07 p.m. ET. President Signs Bill:

President Obama has signed into law a bi-partisan bill that raises the debt ceiling and avoids a government default that analysts as well as the White House warned could have had catastrophic effects on the American economy.

Earlier today, the Senate voted 74-26 to send the bill to the president's desk. The AP reports Obama signed the bill privately in the Oval Office.

Our Original Post:

(St. Louis Public Radio)

President Obama spoke this morning regarding the status of the debt ceiling negotiations.

In case you missed his remarks or would like to review them, see this live-blog of the news conference via NPR's "The Two-Way."

St. Louis-area voters feel frozen out by debt debate

Jul 28, 2011

Rep. Todd Akin's constituents want to see a deal putting an end to the debt-ceiling debate, but not just any deal.

Despite party pressures, the Missouri Republican is planning to vote against Speaker John Boehner's latest proposal to lift the debt ceiling. It doesn't do enough to "address the spending problem," according to Akin's spokesman Steve Taylor.

(St. Louis Public Radio/UPI)

Senator Claire McCaskill of Missouri says Republicans need to offer more compromise regarding a plan on how to handle raising the debt ceiling.

McCaskill says Senate Majority Leader Harry Reid's proposal includes spending cuts larger than the rise in the debt ceiling and no increased taxes.

She says those were the requirements Speaker of the House John Boehner put forward at the start of the debate. But he has come up with his own plan that McCaskill says is similar, but with a catch.

UPI/Bill Greenblatt

Missouri Sen. Claire McCaskill says the bipartisan “Gang of Six” plan to steer the government away from a first-ever default on its financial obligations makes sense because it helps the deficit and lowers corporate and personal tax rates.

The democratic Senator attended the meeting on Capitol Hill Tues. where some 50 senators from both parties were briefed on the plan. McCaskill says most of the senators are excited about the compromise that was presented.

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