The debt ceiling is roiling Washington, again. What to know : NPR

Dec 20, 2024 · The debt ceiling is roiling Washington, again. What to know Lawmakers will have to authorize additional borrowing to pay the government's bills, but there's no reason it has to …

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Is the debt ceiling roiling Washington?

What to know : NPR Once again, the debt ceiling is roiling Washington. Here are 4 things to know President-elect Donald Trump's demand that Congress suspend the debt limit as part of ongoing talks to prevent a government shutdown has put the focus on the debt ceiling yet again. The federal debt ceiling is back in the news yet again. ...

Is the federal debt ceiling back in the news?

The federal debt ceiling is back in the news yet again. The U.S. still has a little time to hit its debt ceiling, but President-elect Donald Trump's eleventh-hour demand that Congress suspend the debt limit as part of ongoing talks to prevent a government shutdown has again put the subject front and center. ...

What is the debt ceiling and why does it matter?

The cap on how much the government can borrow has become a political football, but the consequences are very real. Long an anachronism of American politics, the debt ceiling is back front and center on Capitol Hill as lawmakers grapple with trying to pass a budget. ...

Should Congress raise or suspend the debt ceiling?

During the last showdown over the debt ceiling, Congress suspended the limit until January 1, 2025. While that deadline is now approaching, there's actually no urgency to raise or suspend the debt ceiling right away. The Treasury Department could buy time using "extraordinary measures" to keep borrowing money until the middle of next year. ...

Should the debt ceiling be raised?

Raising the debt ceiling is simply an acknowledgement of those choices, and a recognition that the government's bills must be paid. Failure to do so is akin to gorging oneself at a restaurant, then dashing out the door saying your credit card is maxed out. Here, your voluntary financial support is essential. ...

How many times did Trump raise the debt ceiling?

During the first Trump administration, it was raised three times, and in 2023 Congress agreed to a suspension of the ceiling that will expire on Jan. 1, 2025. The U.S. has never defaulted on its debt and the dollar is considered the benchmark currency of the world. ...