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The president-elect is also urging lawmakers to approve more government borrowing by addressing the nation's debt ceiling before he takes office on Jan. 20. ... government's current $36 trillion ...
What's next for the debt limit? There have been 10 government shutdowns since 1981 in response to funding gaps, the most recent of which was under Trump’s watch in 2018.
The debt ceiling is currently set to return on January 2. It was suspended as part of the bipartisan Fiscal Responsibility Act, which Congress passed in June 2023.
The government needs to borrow money to continue paying out what Congress has already approved, but the debt ceiling puts a limit on how much money the U.S. government can borrow to pay its bills.
The debt ceiling is the limit placed by Congress on the amount of debt the government can accrue. In order to pay its bills to those it borrowed from and dole out money for everything from ...
The debt ceiling is the limit placed by Congress on the amount of debt the government can accrue. In order to pay its bills to those it borrowed from and dole out money for everything from ...
A government shutdown would have stalled paychecks for US military service members, forced federal agencies to close, furloughed workers just before Christmas, and threatened critical services and ...
The debt ceiling, which caps the amount the federal government can borrow, had previously not been on the table during negotiations over a stopgap spending bill before Friday's midnight deadline ...