US hits $31.4 trillion debt ceiling as Treasury announces ‘extraordinary measures’ to avoid default

Thursday, January 19, 2023 | Tag Cloud Tags: ,

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(Worthy News) – The United States reached its ceiling of $31.38 trillion on Thursday, forcing the Treasury Department to implement “extraordinary measures” to avoid defaulting on bonds.

Treasury Secretary Janet Yellen wrote how the U.S. had reached the debt limit in a letter Thursday to members of Congressional leadership.

The Treasury Department will be unable to fulfill some investments such as the Civil Service Retirement and Disability Fund, Yellen said. She instituted a “debt issuance suspension period” from Thursday through June 5. [ Source: Just the News (Read More…) ]

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