The government has to borrow more and more money to keep operating...
Treasury Secretary Little Stevie Mnuchin on Wednesday said that the debt ceiling will need to be lifted by “late Summer,” earlier than some analysts had predicted.
“I haven’t been given an exact date, but I would say it’s late summer, and I share your concern and I urge Congress to raise the debt ceiling as soon as possible,” Mnuchin said at a House Financial Services Committee hearing.
The debt ceiling, which limits how much Treasury can borrow to pay off the government’s bills, was technically reached in March, but the Treasury Department has embarked on a series of “extraordinary measures” that allow it to borrow internally to keep paying bills.
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