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The nation’s debt ceiling was reinstated Thursday, giving congressional Republicans yet another divisive challenge to contend with in 2025. President-elect Donald Trump is demanding that GOP ...
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 ...
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 considering an option of last resort: an untested legal theory that ...
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.
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.
“Investors do not like uncertainty, when there is uncertainty present, investors will not invest.”
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.
Sometimes Congress raises the debt ceiling quietly, and sometimes lawmakers use the occasion to engage in a noisy debate over fiscal policy before raising the cap at the last possible moment.