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What does the 14th Amendment have to do with the debt ceiling? As fear grew last year over the failure to reach a deal on raising the debt ceiling last year, the White House was said to be ...
A debt-ceiling breach has become a political tool — one that Trump is trying to wield for the last time The debt ceiling limits the amount of money the federal government is allowed to borrow to ...
Why is there a debt ceiling? In 1917, when it was financing World War I with Liberty Bonds, Congress instituted a limit on US borrowing and the debt ceiling evolved from there as US debt has grown ...
Since the debt ceiling system was instituted in 1917, Congress has never not raised the debt ceiling. Congress has voted 78 times to raise or suspend the debt limit since 1960.
The last time the debt ceiling was reached, in January 2023, the figure stood at $31.4 trillion. Under a deal reached in June that same year, Congress suspended the debt ceiling until 1 January, 2025.
The GOP did say it would seek to deal with the debt ceiling as part of two budget bills next year that would move forward Trump’s agenda while cutting government spending.
President-elect Trump reiterated his support for abolishing or raising the debt ceiling, after House Republicans failed to advance a continuing resolution that would keep the government funded ...
President-elect Trump said Thursday he would support abolishing the debt ceiling as he pushed the issue to the center of government spending talks with just days to avert a shutdown. Trump told ...