Yellen Says US Will Hit Debt Ceiling Mid-January, Forcing Treasury to Employ ‘Extraordinary Measures’
December 29, 2024 No Comments
Extraordinary measures, often described as accounting maneuvers, allow the Treasury to free up cash and delay default.
The Committee for a Responsible Federal Budget (CRFB) recently noted that interest payments on America’s public debt have nearly tripled since 2020 and in 2024 were higher than spending on Medicare and national defense.
