The milestone will not immediately affect markets or growth, but it sets the stage for months of entrenched partisan warfare.
Tag: Federal Budget (US)
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Why the Debt-Ceiling Fight Could Get Really Ugly — and How It Might End
Ross Douthat and two analysts discuss Kevin McCarthy, the House G.O.P. and the looming drama over the government borrowing cap.
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How ‘Extraordinary Measures’ Can Postpone a Debt Limit Disaster
Treasury Secretary Janet L. Yellen will soon need to use accounting maneuvers to keep the United States from defaulting on its debt.
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How Close Is the U.S. to Hitting the Debt Ceiling? How Bad Would That Be?
The United States has a cap on the amount of money it can borrow. That means it can run out of cash if the limit isn’t lifted.
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As Debt Limit Threat Looms, Wall Street and Washington Have Only Rough Plans
A default is likely to rattle markets and carry big risks, no matter how the Federal Reserve and Treasury try to curb the fallout.