Now, agencies and Congress need to figure out how to implement the thing.
How will the Treasury act to make up for lost time?
Reduced government spending can have an impact on the broader economy. But economists say the effects will likely be limited.
Treasury Secretary Janet Yellen said Friday the projected debt ceiling deadline is extended to June 5, four days later than previously estimated.
Predicting the exact timing of a government default is difficult, given the amount of the variability in government spending and revenue.
Raising the federal government’s borrowing limit isn’t about spending. It’s about how money works.
Recent mergers and the ongoing debt limit negotiations in Congress could be prompting companies to borrow more.