U.S. hits debt ceiling as partisan standoff sparks economic worries

Published by
Reuters UK

By David Morgan and David Lawder WASHINGTON (Reuters) – The U.S. government hit its $31.4 trillion borrowing limit on Thursday, amid a standoff between the Republican-controlled House of Representatives and President Joe Biden’s Democrats on lifting the ceiling, which could lead to a fiscal crisis in a few months. Treasury Secretary Janet Yellen informed congressional leaders including House Speaker Kevin McCarthy that her department had begun using extraordinary cash management measures that could stave off default until June 5. Republicans, with a newly won House majority, aim to use the tim…

Read More

Leave a Reply