Yellen Calls for End to Debt Limit Impasse

The United States could default on its debt sometime in October if Congress does not take action to raise or suspend the debt limit, Treasury Secretary Janet Yellen told Congress this week. In a letter to congressional leaders, Yellen said the “extraordinary measures” that Treasury has been employing to finance the government on a temporary… Read more »

Debt Limit Fight Set for Fall

The House vote on the rule for Democrats’ $3.5 trillion budget resolution this week includes language preventing a clean vote on a separate resolution raising the debt limit, setting up a partisan showdown over government funding and the debt limit this fall. As reported in Punchbowl News, Democrats are now expected to pair a debt… Read more »

Treasury Urges Congress to Address Debt Limit

Treasury Secretary Janet Yellen this week urged Congress to increase or suspend the debt limit in a bipartisan vote before the federal government runs out of borrowing authority this fall. Yellen said increasing or suspending the debt limit “does not increase government spending, nor does it authorize spending for future budget proposals,” Yellen said. “It… Read more »