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For about 48 hours last week, it looked like a debt ceiling fight in 2025 would be averted, as ideas were floated to postpone the issue until 2027 or 2029 (or even forever). But it was not to be.
Janet Yellen, in one of her last acts as Joe Biden's Treasury secretary, alerted Congress that the "extraordinary measures" to avert default will formally kick off today after the debt limit was ...
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 ...
U.S. debt is expected to decrease by about $54 billion on Jan. 2 "due to a scheduled redemption of nonmarketable securities held by a federal trust fund associated wi US may hit new debt limit as ...
The current debt limit extension is slated to end on Jan. 1, though the letter said that the debt subject to the limit is projected to decrease by approximately $54 billion on Jan. 2.
The debt ceiling's history dates back to 1917, when Congress gave the Treasury more borrowing flexibility to finance America's entry into World War One but with certain limits.
Yellen said once the debt limit is increased, these funds will be made whole. ... Read the latest financial and business news from Yahoo Finance. Download the Yahoo Finance app for Apple or Android.
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 ...