Treasury will begin steps to avoid debt default as Trump takes office
- The Treasury Department will start taking extraordinary measures on January 21 to prevent hitting the debt ceiling of roughly $36 trillion, as stated by outgoing Treasury Secretary Janet Yellen.
- Congressional Republicans face pressure to act before a potential debt default, which could cause global economic upheaval, according to Yellen.
- The GOP-led package to suspend the debt cap into January 2027 failed amid significant opposition, including from some Republicans, as reported in the text.
- Janet Yellen urged Congress to act promptly to protect the full faith and credit of the United States, highlighting the uncertainty of extraordinary measures.
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Total News Sources0
Leaning Left13Leaning Right1Center33Last UpdatedBias Distribution70% Center
Bias Distribution
- 70% of the sources are Center
70% Center
L 28%
C 70%
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