Breaking: The U.S. has bumped up against the debt limit. The Treasury began special measures to avoid a default as Congress prepares for a debate on raising the ceiling.
House Republicans are planning to use the debt ceiling, which will need to be raised in 2023, as leverage to get spending cuts. But Democrats are looking to act now in the lameduck session to prevent that.
WSJ explains three things they could do.The Treasury Department began taking special measures to keep paying the government’s bills Thursday as the U.S. bumped up against its borrowing limit, kicking off a
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