Treasury Announces Extraordinary Measures as U.S. Approaches Debt Ceiling
Treasury Secretary Janet Yellen has notified Congress that extraordinary measures will begin on January 21 to avoid a national debt crisis.
Politics
Mostly Reliable
Summary
Janet Yellen announced that the U.S. Treasury will implement extraordinary measures starting January 21, following the inauguration of President Trump, as the nation approaches its debt ceiling. The measures include suspending investments in federal retirement funds to maintain government operations. With the national debt exceeding $36 trillion, Yellen urged Congress to promptly raise the debt ceiling to avoid default. Trump has expressed support for abolishing the debt ceiling altogether, complicating future legislative strategies as Republicans hold control of both the House and Senate.
Informed by:
From the Left
Outgoing Treasury Secretary Janet Yellen is taking 'extraordinary measures' to avoid a debt default as the U.S. approaches its borrowing limit under the Trump administration.
Concerns were raised about the ongoing reliance on extraordinary measures, suggesting they push the debt ceiling problem further down the road without a real solution.
The potential debt default poses risks to the global economy, but some see national debt more as a form of currency circulation than a strict financial liability.
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From the Right
Yellen's announcement of 'extraordinary measures' highlights the urgent need for congressional intervention as the U.S. faces its debt ceiling.
Hard-line conservatives in the Republican caucus opposed previous efforts to raise or suspend the debt limit, emphasizing fiscal responsibility.
Trump has publicly supported eliminating the debt ceiling, presenting it as an unnecessary constraint that complicates fiscal policy.
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Highlights (4)
The looming debt ceiling crisis underscores the urgent need for Congress to act decisively to ensure the federal government can meet its financial obligations without resorting to extraordinary measures that ultimately undermine fiscal stability.
New York Post
·Leans RightThe underlying sources generally maintain reliability but have, at times, included opinion pieces, propaganda, or minor inaccuracies. While typically factual, there may be occasional editorialization or subjective interpretation.Mostly Reliable
Yellen's announcement signals a critical juncture for the U.S. economy, as the looming debt ceiling raises urgent questions about fiscal responsibility and political maneuvering.
Treasury secretary says she’ll take 'extraordinary measures' day after Trump inauguration
AlterNet
·LeftThe underlying sources have a mixed track record. They provide accurate information in some cases but are known to inject bias, sensationalism, or incomplete reporting. Read these stories cautiously and cross-check claims when possible.Mixed Reliable
As the nation approaches a potential debt ceiling crisis, it is crucial for Congress to act swiftly to ensure the financial stability and creditworthiness of the United States.
Yellen: Debt limit will be hit day after Trump’s inauguration
The Hill
·CenterThe underlying sources consistently report facts with minimal bias. They demonstrate high-quality journalism and accuracy across multiple articles.Reliable
Yellen's call for Congress to act promptly highlights the urgent need to address the looming debt crisis, emphasizing that failure to do so could jeopardize the nation’s financial stability and creditworthiness.
Yellen says Treasury will use 'extraordinary measures' on Jan. 21 to prevent hitting debt ceiling
Associated Press
·CenterThe underlying sources consistently report facts with minimal bias. They demonstrate high-quality journalism and accuracy across multiple articles.Reliable