GovernmentShutdown

US Treasury Faces Potential Default by August, Warns CBO

2 months ago

The U.S. Treasury Department is in a precarious financial situation, with the possibility of payment default looming as soon as August 2025. This stark warning comes from the Congressional Budget Office (CBO), which has highlighted the urgent need for Congressional action to address the nation’s mounting debt ceiling dilemma.

House GOP Passes Stopgap Measure, Urging Senate Democrats to Act on Looming Shutdown

2 months ago

In a pivotal move, the House of Representatives, under Republican leadership, has successfully passed a temporary funding bill aimed at averting a potential government shutdown. This resolution comes amid escalating tensions between GOP lawmakers and Senate Democrats, further intensifying the ongoing budgetary stalemate.

Treasury Secretary Yellen Alerts of Imminent Debt Ceiling Crisis in January

5 months ago

In a crucial announcement, U.S. Treasury Secretary Janet Yellen has indicated that the nation is projected to reach its debt limit by mid-January 2024. This critical milestone raises apparent concerns about the federal government’s ability to finance its operations if the debt ceiling is not raised or suspended by Congress.