Congress can't ignore the debt ceiling for much longer

2017-06-01T06:39:25-07:00

CNN - 5/31/2017 - Jeanne Sahadi - For all the headaches on Capitol Hill over Obamacare, tax reform, 2018 budget proposals and the Russia investigations, there is one issue that lawmakers simply can't afford to ignore much longer: Congress must raise or suspend the debt ceiling this year. But the $20 trillion question is when, exactly, that must happen -- and just as importantly, when it will happen. While no one knows for sure on either count, something needs to happen soon if the United States is to avoid defaulting on any of its bills. The legal cap on U.S. borrowing is currently set at $19.81 trillion. Since mid-March, when the last debt ceiling suspension ended, the Treasury Department has been using special accounting measures to keep debt below that limit in order to continue paying all the country's bills in full and on time. Read more @ http://money.cnn.com/2017/05/31/news/ec ... ?iid=SF_LN

Statistics: Posted by McFurd — Thu Jun 01, 2017 7:39 am

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Congress can't ignore the debt ceiling for much longer