US faces unprecedented default on its Treasury debt
On May 1, Treasury Secretary Janet Yellen warned in a letter to House Speaker Kevin McCarthy that the U.S. may run out of measures to pay its debt obligations by June 1. A potential [...]
The debate over raising the debt ceiling
On Jan. 19, the United States hit its “debt ceiling,” which is currently capped at $31.4 trillion. The “debt ceiling” refers to a statutory limit on how much the U.S. can borrow. To prevent a default, [...]