The U.S. is once again approaching its debt ceiling, and failure to raise it could trigger a chain reaction across global ...

The last debt limit suspension ended on Jan. 1, 2025. The agreement allowed a few extra months for the Treasury Department to use “extraordinary measures” to pay the bills, NBC reported.

The debt ceiling was suspended in June 2023 and reinstated in January 2025. Where raising the debt limit sets a specific cap, a suspension declines to set a dollar amount.

The U.S. Treasury has announced plans to borrow a staggering $1.007 trillion in the third quarter, a move attributed to the need to restore its cash reserves, which were depleted during the recent ...

The House version of the reconciliation bill would increase the debt ceiling by $4 trillion, but fiscal hawks such as Sen. Rand Paul (R-KY) have threatened to vote against any version that raises ...

Debt ceiling negotiators 'making progress,' Biden says even as deal remains elusive There are just seven days left before potential default By Rachel Scott, Gabe Ferris, and Lauren Peller, ABCNews ...

The House-passed BBB has a provision raising the debt limit by $4 trillion, enough to accommodate the additional debt the bill itself would create (CBO has estimated it will add $2.4 trillion to ...

Failure to raise the debt limit and ensuing default on U.S. debt – which have never happened before – would cause immense harm to the U.S. and global economies, since the trustworthiness of U ...

When was the last time the debt ceiling was raised? The ceiling is routinely raised to accommodate repayment of the country’s debt. The last time it was raised was in 2021. The debt ceiling was ...