The debt ceiling was originally a fix made during World War I that enabled bonds to be issued without requiring repeated congressional approvals. But in an era of polarization and rising debt loads, the limit has been transformed into a political bludgeon. It does not reflect the actual capacit...
US debt limit vote set for today; Obama likely to signReuters
If the U.S. failed to raise or suspend the debt limit, it would eventually have to temporarily default on some of its obligations, which could have serious and negativeeconomicimplications. Interest rates would likely spike, and demand for Treasurys would drop; even the threat of default can ...
American President again asked Congress to lift the United States debt limit after a meeting Wednesday with the nation’s business leaders. 在周三与美国商界领袖会晤后再次要求国会取消美国的债务上限. The White House Council of Economic Advisors warned before the meeting that the United States government...
The US national debt surpassed$31 trillion for the first time amid higher interest rates at the beginning of this month,as the US Treasury Department's daily treasury statement was released.The US Congress passed legislation in December last year to raise the debt limit to$31.4 trillion.The ...
What’s behind the looming ‘x-date’ on the US debt limit? 1 of 3 | FILE - Speaker of the House Kevin McCarthy, R-Calif., speaks at the Capitol in Washington, Thursday, April 20, 2023. The Democratic president and Republican congressional leader have each tried to assure the ...
It is being widely reported that the deal would suspend the debt limit until January 2025, allowing the upcoming presidential election not to be troubled by the debt ceiling issue. Unsustainable debt For the US government, hitting the legislative debt ceiling is nothing new. Yet the debt-addicted...
Washington— Treasury Secretary Janet Yellen told congressional leaders that the U.S. has hit the limit on the amount of debt it can issue to fulfill its obligations, initiating "extraordinary measures" that will allow the country to avoid a catastrophic default for at least the next few months...
It is being widely reported that the deal would suspend the debt limit until January 2025, allowing the upcoming presidential election not to be troubled by the debt ceiling issue. Unsustainable debt For the US government, hitting the legislative debt ceiling is nothing new. Yet the debt-addicted...
Debt ceiling is raised before the X-date:In an ideal scenario, Democrats and Republicans can reach an agreement on raising the debt limit in a timely manner, ahead of an X-date. However, given the increase in political polarisation in the US over the past decade, we would assign a low ...