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Debt limit

National Debt

We have a debt ceiling deal. So what happens next?

by Kimberly Adams
Jun 2, 2023
Now, agencies and Congress need to figure out how to implement the thing.
Congress will soon have to turn broad spending limits into actual appropriations bills for the next fiscal year.
Stefani Reynolds/AFP via Getty Images
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National Debt

What will happen once the debt ceiling deal is passed?

by Sabri Ben-Achour
Jun 1, 2023
How will the Treasury act to make up for lost time?
After hitting the debt ceiling and taking extraordinary measures, "the Treasury Department has to replenish their checking account, basically," said George Mateyo Key Private Bank.
Mandel Ngan/AFP via Getty Images
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National Debt

The debt limit deal would reduce government spending by about $1.5 trillion

by Justin Ho
May 31, 2023
Reduced government spending can have an impact on the broader economy. But economists say the effects will likely be limited.
"It does slow the economy, but not in a particularly meaningful way," said economics professor Justin Wolfers of the debit limit deal reached by House Speaker Kevin McCarthy and President Joe Biden.
Drew Angerer/Getty Images
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I've Always Wondered ...

Who does the U.S. owe $31.4 trillion?

by Janet Nguyen
May 26, 2023
Our creditors range from private investors to foreign governments. Some seek to align the debt limit with the budgeting process.
The debt limit is the amount of money the Treasury can borrow to meet its obligations. The deadline for Congress to lift the limit, lest the U.S. default, is quickly approaching.
Chip Somodevilla/Getty Images
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Raising the Debt Ceiling

Debt ceiling deadline is extended to June 5, later than previously estimated, Yellen says

by Associated Press
May 26, 2023
Treasury Secretary Janet Yellen said Friday the projected debt ceiling deadline is extended to June 5, four days later than previously estimated.
Treasury Secretary Janet Yellen Yellen said in letter to Congress that inaction on raising the U.S. debt limit would “cause severe hardship.”
Alex Wong/Getty Images
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National Debt

Where does the US credit rating come from?

by Kai Ryssdal and Andie Corban
May 25, 2023
Atsi Sheth from Moody's gives us a behind the scenes look into the company's ratings process.
"In the most basic terms, a credit rating is really an opinion on the credit quality of any entity that borrows on the debt capital markets," said Atsi Sheth at Moody's Investors Service.
Emmanuel Dunand/AFP/Getty Images
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National Debt

When will the U.S. run out of money? It’s tough to say.

by Justin Ho
May 25, 2023
Predicting the exact timing of a government default is difficult, given the amount of the variability in government spending and revenue.
Even Treasury Secretary Janet Yellen admitted it’s hard to be exactly sure when a default could happen.
Alex Wong/Getty Images
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National Debt

The messy money reality at the center of the debt ceiling fight

by Kai Ryssdal , Richard Cunningham and Maria Hollenhorst
May 22, 2023
Raising the federal government’s borrowing limit isn’t about spending. It’s about how money works.
Unless the White House and Congressional leaders can make a deal to lift or suspend the debt limit, the U.S. could default on its debts as soon as June 1.
Anna Moneymaker/Getty Images
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Corporate borrowing is up this month, despite rising interest rates

by Justin Ho
May 19, 2023
Recent mergers and the ongoing debt limit negotiations in Congress could be prompting companies to borrow more.
Large mergers, like Pfizer’s $43 billion purchase of the biotech company Seagen, is one reason why corporate borrowing is up this month.
Kena Betancur/AFP via Getty Images
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Raising the Debt Ceiling

Is the federal debt limit unconstitutional? 

by Janet Nguyen
May 10, 2023
A union that represents government employees is suing the president and treasury secretary to get them to disregard the debt limit.
Treasury Secretary Janet Yellen. A government workers union is suing her and President Joe Biden, calling on them to disregard the debt ceiling.
Alex Wong/Getty Images
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