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The US government’s debt has topped $34 trillion for the first time, just weeks ahead of deadlines for Congress to agree to new federal funding plans. US national debt hits record $34 trillion ...
Yellen, in a letter to House and Senate leaders, noted that the nation’s debt ceiling — the total amount of money the federal government is authorized to borrow to pay for obligations such as ...
The US government has enacted a budget to avert shutting itself down, but the bitterly disputed deal doesn't include a call from President-elect Donald Trump to increase the federal borrowing limit.
The United States has the largest external debt in the world. The total number of U.S. Treasury securities held by foreign entities in December 2021 was $7.7 trillion, up from $7.1 trillion in December 2020. [8] Total US federal government debt breached the $30 trillion mark for the first time in history in February 2022. [9]
The nation will hit its roughly $36 trillion debt limit on Tuesday, when the Treasury Department will start taking extraordinary measures to allow the government to pay its bills, outgoing ...
On January 19, 2023, the United States hit its debt ceiling of $31.4 trillion. [62] At this time, Republicans had taken control of the House during the 2022 midterm elections. Although Republicans were a minority in the Senate, they threatened for the first time in American history to use the filibuster to stop the debt ceiling increase. [36]
The 2011 S&P downgrade was the first time the US federal government was given a rating below AAA. S&P had announced a negative outlook on the AAA rating in April 2011. The downgrade to AA+ occurred four days after the 112th United States Congress voted to raise the debt ceiling of the federal government by means of the Budget Control Act of 2011 on August 2, 2011.
House Republicans passed sweeping legislation Wednesday that would raise the government's legal debt ceiling by $1.5 trillion in exchange for steep spending restrictions, a tactical victory for ...