Treasury will begin steps to avoid debt default as Trump takes office
- The Treasury Department will begin taking extraordinary measures on January 21 to avoid hitting the debt ceiling of roughly $36 trillion, as stated by outgoing Treasury Secretary Janet Yellen.
- Congressional Republicans face pressure to address the debt ceiling quickly, with the risk of a first-ever default looming, according to Yellen's letter to congressional leaders.
- House Speaker Mike Johnson is encountering resistance from fiscally conservative members who prefer to decrease the debt rather than increase it, as reported in the text.
- The federal debt has increased under both Republican and Democratic administrations, and Yellen urged Congress to act promptly to protect the nation's credit.
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Total News Sources0
Leaning Left13Leaning Right2Center40Last UpdatedBias Distribution73% Center
Bias Distribution
- 73% of the sources are Center
72% Center
L 24%
C 72%
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