What is the Debt Ceiling? The debt ceiling is the legal limit on the total amount of federal debt the government can accrue. The limit applies to almost all federal debt.
Treasury Secretary Janet Yellen notified the country's lawmakers last week that Congress needs to decide whether or not to proceed with the increase of the $31.4 trillion national debt [.]
The U.S. officially hit its debt ceiling of $31.38 trillion Thursday, which prompted the Treasury Department to use "extraordinary measures" to avoid defaulting on the national debt.
U S starts extraordinary measures to avert debt default albawaba.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from albawaba.com Daily Mail and Mail on Sunday newspapers.