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Title : U.S. Hits Its Debt Limit. "Extraordinary Measures" Being Implemented To Avoid Default
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U.S. Hits Its Debt Limit. "Extraordinary Measures" Being Implemented To Avoid Default

 

Reuters: U.S. government touches debt limit 

WASHINGTON (Reuters) - The U.S. government was due to hit its $31.4 trillion borrowing limit on Thursday, amid a standoff between the Republican-controlled House of Representatives and President Joe Biden's Democrats that could lead to a fiscal crisis in a few months. 

Republicans, with a newly won House majority, aim to use the congressionally mandated federal debt ceiling to exact spending cuts from Biden and the Democratic-led Senate. 

Thursday's deadline will have little immediate effect, because Treasury officials are prepared to begin employing emergency cash management measures to stave off default. More serious risks will emerge closer to June, when the government approaches the so-called X date, beyond which the Treasury would run out of emergency maneuvers. 

Ahead of that deadline, there was no sign that either side was willing to bend.  

Read more ....  

WNU Editor: Here we go again. 

U.S. Hits Its Debt Limit  

U.S. hits debt limit, prompting "extraordinary measures" to avoid default -- CBS/AP  

America Hit Its Debt Limit, Raising Economic Fears -- DNYUZ/New York Times  

Debt ceiling fight set to "cross the Rubicon" -- Axios  

What is the US debt ceiling and what happens if it isn’t raised? -- The Guardian

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