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In October, the US government will be unable to pay it bills if Congress does not raise the debt ceiling. The debt ceiling is the legal cap that Congress sets on the amount that the Treasury can borrow. Since 1960, the debt ceiling has been raised 78 times. During Donald Trump’s presidency, the ceiling was
September 8, 2021 The Honorable Nancy Pelosi Speaker U.S. House of Representatives Washington, DC 20515 Dear Madam Speaker: I am writing to follow up on my previous letters regarding the debt limit and to provide additional information regarding the Treasury Department’s ability to continue to finance the government in the absence of Congressional action to
Government current expenditures Explosive growth of Fed’s balance sheet, 1980-2021 Year-over-year change in gross public debt (billions), 1980-2020
