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On January 19, 2023, the United States hit its debt ceiling, leading to a debt-ceiling crisis, part of an ongoing political debate within Congress about federal government spending and the national debt that the U.S. government accrues. [ 1][ 2] In response, Janet Yellen, the Secretary of the Treasury, began enacting temporary "extraordinary ...
National Debt Clock. Coordinates: 40.7555°N 73.9848°W. The clock at its former location near Sixth Avenue and 44th Street in February 2017, at which time it read $19.9 trillion in national debt. The National Debt Clock is a billboard-sized running total display that shows the United States gross national debt and each American family's share ...
The federal debt at the end of the 2018/19 fiscal year (ended September 30, 2019) was $22.7 trillion (~$27.1 trillion in 2023). The portion that is held by the public was $16.8 trillion. Neither figure includes approximately $2.5 trillion owed to the government. [ 83] Interest on the debt was $404 billion.
The annual US budget deficit hit $2 trillion in fiscal 2023, which ended in September. That was a big jump from the $1.4 trillion deficit in 2022. In theory, the annual deficit should be shrinking ...
Many in Washington and Wall Street are looking to 2011 as a reason not to freak out about the current debt-ceiling standoff. That year, a similar crisis ended with a last-minute agreement.
Rising government debt levels have seemingly always been in the headlines. In recent years, U.S. debt levels have become political, with one side of the aisle often refusing to raise the debt limit...
On January 19, 2023, the United States hit its debt ceiling of $31.4 trillion. [62] By this time, Republicans had taken control of the House during the 2022 midterm elections. Although Republicans were a minority in the Senate, they threatened for the first time in American history to use the filibuster to stop the debt ceiling increase. [34]
January 18, 2023 at 3:55 PM. Carolyn Kaster / AP. As the deadline for the debt ceiling looms — Treasury Secretary Janet Yellen said the country would hit the threshold on Jan. 19 ...