The United States has a cap on the amount of money it can borrow. That means it can run out of cash if the limit isn’t lifted.
Category: National Debt (US)
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As Debt Ceiling Threat Looms, Wall Street and Washington Have Only Rough Plans
A default would most likely rattle markets and carry big risks, no matter how the Federal Reserve and Treasury try to curb the fallout.
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U.S. Will Hit Debt Limit Jan. 19, Yellen Tells Congress
The Treasury Department expects to begin taking “extraordinary measures” to continue paying the government’s obligations ahead of what’s expected to be a big fight to raise the borrowing cap.
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U.S. Will Hit Debt Limit Jan. 19, Yellen Tells Congress
The Treasury Department expects to begin taking “extraordinary measures” to continue paying the government’s obligations ahead of what’s expected to be a big fight to raise the borrowing cap.
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U.S. Deficit Fell to $1.4 Trillion in 2022
Borrowing remained elevated last year as spending fights loom in a divided Congress.
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The U.S. May Finally Breach the Debt Ceiling. Here’s Why That Would Be Very Bad.
If Congress fails to increase the government’s borrowing limit in time, the result would be a shock to the economy and financial markets.
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Yellen Urges Congress to Raise Debt Limit Beyond 2024 Election
Republicans might try to use the borrowing cap as leverage if they achieve a majority in the House or Senate, but the Treasury secretary cautioned against a “devastating economic self-inflicted blow.”