The Economist (May 11, 2023) – As America’s government hits the debt ceiling, US politics has become a multi-trillion dollar game of chicken. If neither side backs down, America could default on its debts for the first time in history, sparking global economic turmoil. What is the debt ceiling, and how can this crisis be resolved?
Tag Archives: U.S. Government
Analysis: Can The U.S. Debt Keep Increasing Forever?
As lawmakers prepare for another hike in the U.S. debt ceiling, WSJ’s Greg Ip explains why it’s economically feasible for the U.S. to keep borrowing, as long as interest rates stay low.
History: Planning And Building ‘The Pentagon’
The Pentagon is the headquarters building of the United States Department of Defense. As a symbol of the U.S. military, the phrase The Pentagon is also often used as a metonym for the Department of Defense and its leadership.
Located in Arlington County, Virginia, across the Potomac River from Washington, D.C., the building was designed by American architect George Bergstrom and built by contractor John McShain. Ground was broken on 11 September 1941, and the building was dedicated on 15 January 1943. General Brehon Somervell provided the major motivating power behind the project;[6] Colonel Leslie Groves was responsible for overseeing the project for the U.S. Army.
The Pentagon is the world’s largest office building, with about 6,500,000 square feet (150 acres; 0.60 km2) of floor space, of which 3,700,000 sq ft (85 acres; 0.34 km2) are used as offices.[7][8] Some 23,000 military and civilian employees,[8] and another 3,000 non-defense support personnel, work in the Pentagon. It has five sides, five floors above ground, two basement levels, and five ring corridors per floor with a total of 17.5 miles (28.2 km)[8] of corridors. The central five-acre (2.0 ha) pentagonal plaza is nicknamed “ground zero” on the presumption that it would be a prime target in a nuclear war.
Politics: ‘The U.S. Elections Explained’ (Video)
Dr Thomas Gift, Visiting Fellow at the LSE United States Centre, provides explanation and commentary on some the key questions about government in America: what are the separate branches of government, their responsibilities, and how do they work (and not work) together?
Public Investigations: “The Financial Crisis At The U.S. Postal Service” (WSJ Video)
More than a decade of losses have put the U.S. Postal Service in a dire financial situation. To understand how this happened, WSJ takes a look back at how the modern postal service became an entity balancing public service and the need for profit.
Photo Illustration: Jacob Reynolds/WSJ