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The news comes after President Joe Biden signed a bill into law last week that averted a government shutdown but did not include President-elect Donald Trump’s core debt demand to raise or suspend the nation’s debt limit. The bill was approved by Congress only after fierce internal debate among Republicans over how to handle Trump’s demand. “Anything else is a betrayal […]
US Treasury Secretary Janet Yellen said her department will need to start taking so-called “extraordinary measures” to prevent the nation from hitting the debt ceiling as early as January 14. If the US does hit the debt ceiling, the Treasury Department, responsible for ensuring financial security, will not have enough cash on hand to pay back […]
Treasury Secretary Janet Yellen warned congressional leaders Friday that the federal government will hit its debt limit as early as Jan. 14 unless Congress takes action or her department implements “extraordinary measures” to avoid default. Yellen’s letter indicates that the looming debt ceiling fight involving Congress and the new administration is likely to take place […]
The federal debt currently stands at roughly $36 trillion — which ballooned across both Republican and Democratic administrations. WASHINGTON (AP) — Treasury Secretary Janet Yellen said her agency will need to start taking “extraordinary measures,” or special accounting maneuvers intended to prevent the nation from hitting the debt ceiling, as early as January 14, in a letter sent […]