Tag: Debt Ceiling

The United States hit its debt limit this Thursday, prompting the Treasury Department to be using a series of accounting maneuvers to ensure the federal government can keep paying its bills ahead of what’s expected to be a protracted fight over whether to increase the borrowing cap. Treasury Secretary Janet L. Yellen wrote to Congress in a letter. According to Yellen, the government will begin asking lawmakers to raise or suspend the debt limit so that the government can continue meeting its financial obligations. She said that extraordinary measures would be taken to prevent the nation from breaching its statutory debt limit.