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Bookmark or Share- The Debt Ceiling Will Be Reinstated on January 1 — Here’s What’s at StakeThe debt ceiling — otherwise known as the debt limit — is the maximum amount of money that the U.S. Treasury can borrow to pay its obligations; that ceiling is set by law. The federal government previously reached its debt ceiling in early 2023.
- National Debt Clock: What Is the National Debt Right Now? - The Peter G ...When the federal government spends more than it takes in, we have to borrow money to cover that annual deficit. And each year’s deficit adds to our growing national debt. Historically, our largest deficits were caused by increased spending around national emergencies like major wars or the Great Depression.
- What Are Interest Costs on the National Debt? - The Peter G. Peterson ...76 Options for Reducing the Deficit The nonpartisan Congressional Budget Office released 76 policy options — spanning both revenues and spending — that could help bring the country’s rising debt under control.
- 83 Ways We Can Reduce the Deficit, According to CBO - The Peter G ...Recently, the Congressional Budget Office (CBO) highlighted 83 ways to reduce the deficit and improve our fiscal outlook — including options to cut spending and raise revenues. Solutions to Reduce the National Deficit
- Current Federal Debt and Deficit - The Peter G. Peterson FoundationEvery month the U.S. Treasury releases data on the federal budget, including the current deficit or surplus. The following contains budget data for December 2024, the third month of fiscal year (FY) 2025.
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