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Bookmark or Share- Janet Yellen warns 'extraordinary measures' needed to avoid default in ...Once the U.S. hits the debt ceiling, the government cannot borrow any more money and technically defaults, leaving it unable to pay bills unless the president and Congress negotiate a way to lift ...
- Debt Limit: Statutory Changes Could Avert the Risk of a Government ...Congress sets a limit on federal borrowing, known as the debt limit. If the government reaches this limit and exhausts available cash, it risks missing payments on its debt, thereby defaulting. A default could have devastating effects on financial markets, the economy, and the United States' stature abroad.
- Yellen Issues Debt Limit Warning to Congress - The New York TimesTreasury Secretary Janet L. Yellen informed Congress on Friday that if lawmakers do not act to raise or suspend the nation’s debt limit as soon as Jan. 14 she would most likely need to begin ...
- What Would Happen if the U.S. Defaulted on Its DebtThere is more than $1 trillion of Treasury debt maturing between May 31 and the end of June that could be refinanced to avoid default, according to analysts at TD Securities.
- Biden and McCarthy reach a final deal to avoid US default and now must ...The debt ceiling deal has come with just days to spare before a potential first-ever government default. On Sunday, President Joe Biden and House Speaker Kevin McCarthy reached a final agreement and they are urging Congress to quickly pass it.
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