By Tami Luhby, CNN Treasury Secretary Janet Yellen formally put Congress on notice last week that the agency will have to start taking “extraordinary measures” after the US reaches its $31.4 trillion debt limit on Thursday.
The US treasury secretary warned ‘extraordinary measures’ will have to be put in place to prevent defaulting – here’s what that means for the government
The nation reached its debt limit Thursday, beginning the uncertain process known as extraordinary measures, in which the U.S. Treasury Department uses accounting maneuvers to avoid defaulting on the debt.
By Tami Luhby, CNN The US hit the debt ceiling set by Congress on Thursday, forcing the Treasury Department to start taking extraordinary measures to keep the government paying its bills and escalating pressure on Capitol Hill to avoid a catastrophic default.
The Treasury Department says it has started taking "extraordinary measures" as the government has brushed up against its legal borrowing capacity of $38.381 trillion.
The U.S. is undertaking "extraordinary" measures to avoid defaulting on its obligations after the country reached its debt limit on Thursday. Now, a big political fight looms.
Treasury Secretary Janet Yellen wrote to Congress saying that the US Treasury had started its "debt issuance suspension period" amid a standoff in Congress over increasing the country's debt ceiling.
The US hit the debt ceiling set by Congress on Thursday, forcing the Treasury Department to start taking extraordinary measures to keep the government open and escalating pressure on Capitol
The U.S. officially hit its debt ceiling of $31.38 trillion Thursday, which prompted the Treasury Department to use "extraordinary measures" to avoid defaulting on the national debt.
Treasury Secretary Janet Yellen warned that officials might have to deploy "extraordinary measures" soon to make sure the country can keep paying its bills.
The Treasury Department will temporarily suspend investments in federal employee retirement accounts, Secretary Janet Yellen said Thursday, as it scrambles to prevent the government from running out of money.
The Treasury Department is taking steps to make sure the U.S. doesn’t default on its debt, as House Republicans and the White House continue to face off.
The Treasury Department projects that the federal government will reach its legal borrowing capacity, prompting "extraordinary measures" to make payments.
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