economy

From the Scholars Strategy Network, written by Cristobal Young, Stanford University

What is the “debt ceiling” and why does it matter?

At the most basic level, it is the limit that Congress places on the U.S. Treasury in terms of how much debt it can issue. The Treasury has been at its technical limit — $16.699 trillion — since May, but it has been using certain budgeting tactics, so-called “extraordinary measures,” to get around the stated limits. But those measures will shortly no longer be viable, if Congress does not act.

As hundreds of thousands of newly minted college graduates pack away their cap and gowns each year, many have one common worry: “Will I be able to find a job?” Rising student loan debt has been the focus of public debate, but the Great Recession has made the overall situation for new graduates that much more difficult.

The collapse of Bear Stearns and Lehman Brothers in 2008 has triggered debates on the role of executive compensations in inducing risk-taking behavior. The implication is far-reaching given that executive pay reforms have been proposed to prevent another financial crisis.

As global competition and market pressures continue to intensify, many U.S. business leaders, educators and policymakers are focused on creating a workforce that will foster innovation and maintain the nation’s traditional position as the world leader in the sciences. To that end, the government and private sector alike are interested in measuring the supply and demand of jobs and labor within Science, Technology, Engineering and Mathematics (STEM).