Posted in Debt, Donald Trump, Fiscal Crisis, Fiscal Policy, Government Spending, Republicans, tagged Debt, Debt Limit, Donald Trump, Fiscal Crisis, Fiscal Policy, Government Spending, Republicans on January 15, 2025| 3 Comments » My recent book explains that we are stumbling our way to a...
How does the US debt limit standoff end? A look at the possible scenarios May 9, 2023 Lawsuit: Yellen should ignore ‘unconstitutional’ debt limit May 9, 2023 Debt limit deadline looms as Democrats, GOP spar on spending May 5, 2023 Biden, top lawmakers to discuss debt limit a...
Address the debt ceiling: The agreement would suspend the nation’s $31.4 trillion debt limit through January 1, 2025. This removes it as a potential issue in the 2024 presidential election. Cap non-defense spending: Under the deal, non-defense spending would remain relatively flat in fiscal...
JUST IN: House passes debt limit bill From Clare Foran, Kristin Wilson and Haley Talbot The House has passed the debt limit dealto suspend the nation’s debt ceiling through January 1, 2025. The final tally for the vote was 314 to 117. ...
Senate passes debt limit bill The US Senate haspassed the debt limit bill, averting a US default. The final vote tally was 63 to 36. The bill can now go to President Joe Biden to be signed into law. The measure would suspend the nation’s debt limit through January 1, 2025, to aver...
The bill would suspend the U.S. debt limit through Jan. 1, 2025, allowing Biden and lawmakers to set aside the politically risky issue until after the November 2024 presidential election. It would also cap some government spending over the next two years, speed up the permitting pro...
Debt limit talks have entered an encouraging new phase as President Joe Biden and House Speaker Kevin McCarthy have tapped top emissaries to negotiate a deal to avert an unprecedented national default. The president also cut his upcoming overseas trip sh
“Bottom line, if the debt limit is raised above the 1.5 level, and if the timeline extends to 2025, IF the student loan payout is still intact, if the IRS agent funding is still there, if the provisions in the IRA is still intact, if the work requirement EXCLUDES MEDICAID, I will...
2025 Debt Ceiling Reinstatement The debt ceiling suspension expired in January 2025 and the debt ceiling was reinstated on Jan. 2, 2025, at $36.1 trillion; the amount of the national debt at the time.4 TheU.S. government breached this limitpermanently on Jan. 13, 2025, and has begun reso...
This change gave rise to the debt ceiling or debt limit, a ceiling on how much the U.S. Treasury can borrow set by Congress. If government spending, which is also approved by Congress, is greater than tax revenues, then the debt ceiling must be increased or the U.S. willdefaulton its...