BPC Blog

How will the Fannie Mae and Freddie Mac dividend payments to Treasury impact the debt limit?

Loren Adler contributed to this post.

Today, Fannie Mae announced that it will pay an unusually large dividend of $59.4 billion to the U.S. Treasury by June 30, 2013. Yesterday, Freddie Mac announced that it will send a $7.0 billion dividend to the U.S. Treasury in June. The Bipartisan Policy Center (BPC) has updated its previous debt limit projection to incorporate this new information.* We now estimate that the X Date – the day on which the federal government would no longer be able to pay all of its bills in full and on time due to lack of cash and borrowing authority – is most likely to occur sometime in October, if Congress does not take action related to the debt limit before that time.

If the legislation is enacted before June, the X Date would most likely be pushed back to November

Loren Adler contributed to this post.

Tomorrow, the House of Representatives will consider H.R. 807, the Full Faith and Credit Act, which would alter the application of the debt limit to certain interest payments. The bill would allow the Secretary of the Treasury to issue new debt – even if it would otherwise cause the debt limit to be exceeded – for the sole purpose of paying principal and interest on debt held by the public and intragovernmental debt held by the Social Security Trust Funds. President Obama has announced that he would veto H.R. 807 if it reached his desk.

Turkish Prime Minister Recep Tayyip Erdoğan will visit the White House next week

Policymakers are once again debating whether or not the United States ought to take a greater role in Syria’s civil war. Recent events have brought this question to the fore: reports from multiple countries of civilian exposure to chemical weapons; Israeli airstrikes against missiles intended for the terrorist group Hezbollah; and an ever-worsening refugee crisis in countries neighboring Syria. This debate, however, misses one fundamental question: even if the United States were to intervene, even if Assad were ousted, what would become of Syria then?

Mac O'Brien contributed to this post

The Tax Reform Act of 1986 is still heralded today as a legislative landmark, not only for what it accomplished, but also for how it became law. In his article entitled “How Tax Reform Came About,” Dr. Joseph J. Minarik explains how the Tax Reform Act of 1986 evolved over time as it made its way through the legislative meat grinder.

Will the pain of the sequester be enough to make Congress act before outside forces act for it?

The battle between the House and the Senate over Fiscal Year 2014 appropriations combined with the need to raise the federal debt ceiling limit will once again dominate the legislative calendar this fall.

Why do fewer than 20 percent of American adolescents meet federal guidelines for regular physical activity? How do we get more kids active? How do we prevent those children who have sufficient access to sports programs from dropping out of sports as they get older? How do we make sure kids have the tools to become active adults? Do we need federal or state policies to get more Americans moving?

These were some of the issues we addressed at the Aspen Institute's Sports and Society Project Play Summit in Aspen, Colorado, April 9-12th. A key initiative of the Aspen Institute's Sports and Society Program, the Project Play Summit convened leaders from sports, health, philanthropy, media, and industry to start a national conversation about how to give stakeholders--from parents to policy makers--the tools to build "Sport for All, Play for Life" communities. Too little physical activity is a key contributor to increasing rates of childhood obesity, type 2 diabetes and other chronic diseases that increasingly are taxing our health care systems as well as public and private sector budgets. The group coalesced around the urgent need to identify strategies that get Americans moving through sports.

Welcome to the BPC Housing Commission expert forum! This forum is intended to foster interactive and substantive discussion about pressing housing issues. Each month contributors from different parts of the housing sector will be invited to respond to a discussion topic.

Guest posts are shared regularly with Housing Commissioners to help inform their work.

Very few of the people that are commonly described as “lone wolves” are really isolated loners

By Peter R. Neumann

Earlier today, President Obama drew attention to the threat from so-called “self-radicalizers” who embrace terrorism without having strong links into terrorist networks or structures.

Ideas like “self-radicalization” and “lone wolves” have become increasingly popular as a number of cases have emerged in recent years where wannabe terrorists had no face to face contact with al Qaeda recruiters. The Tsarnaev brothers, who carried out the Boston bombings, may be the latest example.

In the late spring issue of Capitol File Magazine, BPC’s own former Senator Olympia Snowe, who serves as a co-chair of our Commission on Political Reform; Vice President of Communications Eileen McMenamin; and Michele Stockwell, vice president of public policy and executive director of BPC’s advocacy network, BPCAN, made the list of the 2013 Most Influential Leaders in DC.

View photos from Saturday's BPC-Capitol File Magazine after party at the Carnegie Library.

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