Debt

The secretary of the United States Treasury, Janet Yellen, has said the government will run out of funds to cover its financial obligations by June 5 if the current spending limit of $31.4 trillion is not raised before then. Yellen’s announcement, which came in the form of a letter to the US Congress on Friday, … Read more

United States President Joe Biden, a Democrat, has held a sit-down meeting with Republican House Speaker Kevin McCarthy to discuss raising the country’s debt ceiling, which limits how much the federal government can borrow to pay its accounts. But once again, a solution to the country’s impending debt crisis remains elusive, as the government hurtles … Read more