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The debt ceiling is the unexpected debate in Washington this week after President-elect Donald Trump threw the annual holiday-season government-funding talks into disarray.
The nation’s debt ceiling was ... “The federal government will begin 2025 with significantly more cash on hand compared to the start of the most recent debt limit debate in 2023,” said Shai ...
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.
A debate over the debt ceiling is at the center of a dispute over funding that is pushing Washington to the brink of a federal government shutdown. President-elect Donald Trump has demanded that a provision raising or suspending the nation's debt limit — something that his own party routinely resists — be included in legislation to avert a ...
A new debt ceiling established this week sets up a coming debate about averting default. The parameters of that standoff are already making Donald Trump unhappy.
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.
President-elect Donald Trump confounded members of Congress and flipped the government spending debate on its head when he demanded a premature increase to the debt ceiling on “Biden’s watch ...
The debt ceiling is an aggregate figure that applies to gross debt, which includes debt in the hands of the public and intra-government accounts. As of October 2013, about 0.5 percent of the debt is not covered by the ceiling. [9] There is debate about whether the debt ceiling is constitutional.