US could hit its debt limit by mid-January

Treasury Secretary Janet Yellen informed lawmakers that the U.S. is expected to hit its debt limit by mid-January. Extraordinary measures may be needed to keep the government running, but these are temporary. If the debt ceiling isn't raised, the government risks defaulting. The current debt ceiling is $36.1 trillion. Recently, Congress passed a bill to fund the government until mid-March, preventing a shutdown. President-elect Donald Trump has urged Congress to raise or suspend the debt limit.

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