Key takeaways: Treasury Secretary Janet Yellen announced that the U.S. is projected to reach its borrowing limit of $31.4 trillion on January 19th. The Treasury…
Posts tagged as “the Treasury Department”
The U.S. Treasury Department is expected to hit the debt ceiling next Thursday, prompting Secretary Janet Yellen to warn of "certain extraordinary measures" to avoid a catastrophic default. In response, House Speaker Kevin McCarthy said Republicans will protect Medicare and Social Security, while looking to balance the federal budget. Congress must now find a solution to the issue, as the Treasury Department's measures can only buy a limited amount of time.
Treasury Secretary Janet Yellen has warned Congress that the US will reach its debt limit on January 19th, and urged them to raise the limit to avoid a potential default. This sets up a major battle on Capitol Hill, as the government must take “extraordinary measures” to avoid a default. Yellen has warned of serious economic consequences if the debt limit is not raised in time.
House Oversight and Accountability Chairman James Comer, R-Ky., has written a letter to Treasury Secretary Janet Yellen to investigate President Joe Biden’s involvement in his…