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In January, U.S. Treasury Secretary Janet Yellen asked Congress to raise the debt limit. She said that once the U.S. reaches the debt limit, the Treasury would take “extraordinary measures” to prevent the country from defaulting on its debts. Read her full letter here
Extraordinary measures
Treasury.gov
In January, U.S. Treasury Secretary Janet Yellen asked Congress to raise the debt limit. She said that once the U.S. reaches the debt limit, the Treasury would take “extraordinary measures” to prevent the country from defaulting on its debts. Read her full letter here
Bloomberg
The Treasury’s “extraordinary measures” involve moving around investments in two government retirement funds. But the change won’t affect retirees -- the Treasury will make the funds “whole” again after the debt ceiling is increased -- Bloomberg
CNN
CNN: Yellen is giving lawmakers more time to agree to raise the debt ceiling. She said the measures would give U.S. enough money to last into June. Thanks to the measures, hitting the debt ceiling didn’t pull the U.S. into a crisis right away
NY Times
But The NYT said Yellen’s solution could come at a cost: Altering investments could lose the federal government money in the long run, and the market could react poorly if the debt ceiling debacle goes on too long
Washington Examiner
And what happens if Congress doesn’t raise the debt ceiling by the time Yellen’s extraordinary measures run out? The Washington Examiner said the government has a few more tricks up its sleeve, but the only real solution to hitting the debt ceiling is getting Congress to raise it!
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