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On January 19, 2023, the United States hit its debt ceiling, leading to a debt-ceiling crisis, part of an ongoing political debate within Congress about federal government spending and the national debt that the U.S. government accrues. [1] [2] In response, Janet Yellen, the secretary of the treasury, began enacting temporary "extraordinary ...
The debt ceiling had been suspended until January 2 as part of the bipartisan Fiscal Responsibility Act, which Congress approved in June 2023 after months of contentious debate between the GOP-led ...
The nation’s debt ceiling was reinstated Thursday, giving congressional Republicans yet another divisive challenge to contend with in 2025. ... That figure stood at just over $36.1 trillion on ...
The national debt currently exceeds $36 trillion — an increase of about $5 trillion from where it stood at the time of the 2023 debt ceiling battle. When the debt limit is reinstated next week ...
The national debt currently exceeds $36 trillion — an increase of about $5 trillion from where it stood at the time of the 2023 debt ceiling battle. Show comments Advertisement
This ended the debt-ceiling crisis that began on January 19, 2023; the debt ceiling suspension remained in effect until December 31, 2024. Previously, in December 2021, the debt ceiling was raised when it was increased by $2.5 trillion, [5] to $31.381463 trillion, which lasted until January 2023.
The dual releases Wednesday of the “Federal Debt and the Statutory Limit, February 2023” and “The Budget and Economic Outlook: 2023 to 2033” also provided insights into the overall U.S ...
The last time lawmakers raised the debt limit was June 2023. Rather than raise the limit by a dollar amount, lawmakers suspended the debt limit through Jan. 1, 2025. At that point, the limit will ...