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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 ...
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The so-called Fiscal Responsibility Act of 2023, negotiated by President Biden and former House Speaker Kevin McCarthy (R-Calif.) over Memorial Day weekend, passed the lower chamber in a 314-117 ...
The United States debt ceiling is a legislative limit that determines how much debt the Treasury Department may incur. [23] It was introduced in 1917, when Congress voted to give Treasury the right to issue bonds for financing America participating in World War I, [24] rather than issuing them for individual projects, as had been the case in the past.
Secretary of the Treasury Janet Yellen testifies during a Senate Appropriations subcommittee hearing at the U.S. Capitol, in Washington, D.C., on Tuesday, June 4, 2024.
Extraordinary measures may refer to: Financial measures taken when the United States government nears its debt ceiling; Extraordinary Measures, a 2010 medical drama;
In a letter to Congress of April 4, 2011, Treasury Secretary Timothy Geithner explained that when the debt ceiling is reached, the US Treasury can declare a debt issuance suspension period and utilize "extraordinary measures" to acquire funds to meet federal obligations but which do not require the issue of new debt, [43] such as the sale of ...
The U.S. Treasury Department may need to take "extraordinary measures" by as early as Jan. 14 to prevent the United States from defaulting on its debt, Treasury Secretary Janet Yellen told ...