Trump's Latest Executive Order Punishes Schools Mandating the COVID Shot
Democrats Are Going to Hate New Polling on DOGE
New Information Could Shed Light on What Really Happened in Army Helicopter Crash
ICE Hiring Contractors to Monitor Threats Through Social Media Surveillance
Trump Administration Is Taking Action Against Government-Run Schools Pushing Gender Ideolo...
Trump's Immigration Policies Have Already Had a Massive Impact on the Border
Praying for the Order of Love
Republican Pushes to Uncover Federal Secrets: JFK, Epstein, UFO, and Origins of COVID
Ilhan Omar Faces Deportation Efforts
Tom Homan Targets AOC
Trump WH Gives Epic Valentine's Day Warning to Illegal Immigrants
JD Vance Beautifully Roasts EU Leaders in First Major Speech
Heart Transplant Denied to JD Vance’s Relative Over Unvaccinated Status
Trump Revives Incandescent Light Bulbs, Puts an End to Biden-Era Ban
The Trump White House Has Made a Decision on the AP's Access
Tipsheet

It's Beginning To Feel A Lot Like Debt Limit

Does the world feel different? If it does, it's because we're operating under a debt limit again.

The debt limit has returned after a months-long suspension was passed by Congress last year. The federal government is once again ostensibly limited by a $17.2 trillion statutory debt limit:

Advertisement

The new cap on borrowing is expected to be about $17.2 trillion. It means Treasury Secretary Jacob Lew will have to employ bookkeeping maneuvers to keep the government functioning until Congress further raises the borrowing limit.

In a letter Friday to congressional leaders, Lew warned that he has less maneuvering room now than he had last year, when such "extraordinary measures" bought five months of time for the government to keep borrowing at the previous $16.7 trillion debt ceiling.

Guy had a great rundown of how Congressional Republicans' debt limit strategy has evolved, but it might look like we're going to get a "clean" debt limit hike. Whatever happens, it likely needs to happen in the month of February.

Treasury Sec. Jack Lew has "extraordinary measures" that he can use, but those will likely be less lasting than previous measures, because the month of February is unique for the government coffers: tax rebates go out, but tax payments do not come in. It's likely that the "X-date" for the debt limit will fall at the end of the month, though Sec. Lew has been more pessimistic than independent estimates.

We're back in the world of the debt limit. It might hit sooner rather than later.

Join the conversation as a VIP Member

Recommended

Trending on Townhall Videos

Advertisement
Advertisement
Advertisement