Treasury will begin steps to avoid debt default as Trump takes office
- Janet Yellen announced that the Treasury will start taking 'extraordinary measures' on Jan. 21 to prevent hitting the debt ceiling, as stated in her letter to congressional leaders.
- The federal debt is approximately $36 trillion, and the Treasury expects to reach the debt limit between Jan. 14 and Jan. 23, according to Yellen's forecasts.
- Congressional Republicans are divided over how to address the debt ceiling, with House Speaker Mike Johnson facing resistance from fiscally conservative members.
- The extraordinary measures will last through March 14, but failure to act could lead to a first-ever default, which would likely cause global economic upheaval.
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Total News Sources0
Leaning Left14Leaning Right2Center43Last UpdatedBias Distribution73% Center
Bias Distribution
- 73% of the sources are Center
73% Center
L 24%
C 73%
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