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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 nation’s debt ceiling was reinstated Thursday, ... That figure stood at just over $36.1 trillion on December 31, up from $31.4 trillion in June 2023, when the cap was suspended as part of ...
For months now, Washington and Wall Street have been looking to 2011 as a guide to the current crisis. But there are some key differences. Debt ceiling: How the 2023 drama is ‘100% different ...
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 ...
In 2023, Moody's Analytics estimated that a protracted breach of the debt ceiling would cause comparable effects to the 2008 economic crisis. It said it could cost the economy more than 7 million ...
June 3, 2023 at 9:00 AM. ... Act of 2023 to try to prevent the U.S. economy from careening into an abyss amid the debt ceiling crisis. ... means that imminent disaster will be averted, many ...
The debt ceiling compromise bill sailed to passage in the House on Wednesday evening. The House voted 314-117 after just over an hour of debate on the legislation. The bill required a simple ...
The debt limit was raised to approximately $31.381 trillion on Dec. 16, 2021, but a Republican-led Congress following the midterm elections is now looking for spending cuts in exchange for support ...