Yellen says Treasury will take additional 'extraordinary measures' on debt limit
Debt ceiling never gets handled until the last minute: Ken Fisher
Fisher Investments founder and chairman Ken Fisher discusses Congress’ handling of the debt ceiling and recession fears.
Treasury Secretary Janet Yellen told Congress on Tuesday that her department is taking an additional emergency step to avoid breaching the federal debt limit.
In a letter addressed to House Speaker Kevin McCarthy, Yellen said that Treasury is suspending the full investment of a federal retirement program so that the government can continue to pay its bills.
The debt ceiling, which is currently around $31.4 trillion, is the legal limit on the total amount of debt that the federal government can borrow on behalf of the public, including Social Security and Medicare benefits, military salaries and tax refunds.
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