Debt Limit - U.S. Department of the Treasury
2 days ago · The debt limit is the total amount of money that the United States government is authorized to borrow to meet its existing legal obligations, including Social Security and Medicare benefits, military salaries, interest on the national debt, tax refunds, and other payments.
Secretary of the Treasury Janet L. Yellen Sends Letter to …
1 day ago · WASHINGTON – Today, Secretary of the Treasury Janet L. Yellen sent a letter to all members of Congressional leadership regarding the debt limit.The full text of the letter can be found here and is available below. The Honorable Mike JohnsonSpeakerU.S. House of RepresentativesWashington, DC 20515 Dear Mr. Speaker:I write to keep you apprised of actions the Treasury Department is taking in ...
Yellen says Treasury will use 'extraordinary measures' on Jan. 21 …
1 day ago · WASHINGTON (AP) — In one of her last acts as Treasury Secretary, Janet Yellen said her agency will start taking “extraordinary measures,” or special accounting maneuvers intended to prevent the nation from hitting the debt ceiling, on January 21 in a letter sent to congressional leaders Friday afternoon. She sent a letter in late December to lawmakers stating that Treasury expected to ...
U.S. to Deploy ‘Extraordinary Measures’ to Avoid Default on Jan. 21
2 days ago · Janet L. Yellen, the outgoing Treasury secretary, urged lawmakers to raise the debt limit and protect the full faith and credit of the United States. By Alan Rappeport Reporting from Washington ...
US Treasury to launch measures to avoid debt limit breach on …
1 day ago · Yellen said the Treasury would suspend investments in two government employee benefit funds through March 14, to claw back borrowing capacity under the $36.1 trillion debt ceiling. As of Thursday ...
The Debt Ceiling Will Be Reinstated on January 1 — Here’s What’s …
Dec 12, 2024 · The debt ceiling — otherwise known as the debt limit — is the maximum amount of money that the U.S. Treasury can borrow to pay its obligations; that ceiling is set by law. The federal government previously reached its debt ceiling in early 2023.
What Happens When the U.S. Hits Its Debt Ceiling?
Jun 27, 2023 · The Treasury Department reached its debt ceiling of $31.4 trillion in January 2023, and after months of debate, lawmakers voted in June of that year to suspend the ceiling until January...
Everything You Need to Know About the Debt Ceiling
May 2, 2023 · One proposal is for the Treasury Department to prioritize certain payments to avoid defaulting on U.S. debt. In that case, the Treasury would first pay the bondholders who own U.S. Treasury...
Federal Debt and the Statutory Limit, May 2023
The debt limit—commonly called the debt ceiling—is the maximum amount of debt that the Department of the Treasury can issue to the public or to other federal agencies. The amount is set by law and has been increased or suspended over the years to allow for the additional borrowing needed to finance the government’s operations.
The U.S. Hit the Debt Ceiling. What Does That Mean and What …
Jan 11, 2023 · WASHINGTON — Washington and Wall Street are bracing for a revival of brinkmanship over the nation’s statutory debt limit, raising fears that the fragile U.S. economy could be rattled by a...