Yellen expected the United States to reach the debt ceiling as soon as January 19 and urged Congress to act in time.
[Financial Channel/Comprehensive Report] U.S. Treasury Secretary Yellen warned Congress on Friday (13th) that the U.S. is expected to reach the statutory debt ceiling next Thursday. Government debt is about $78 billion (TWD 2.4 trillion) short of the ceiling.
According to comprehensive media reports, in recent years, the US federal spending has gradually reached the highest level in history, and the national debt has continued to expand. Although the debt ceiling has been raised to US$31.4 trillion (NT$95.1 trillion) since December 2021, as the US budget last December The deficit has soared to three times that of the same period in 2021, and the debt ceiling has raised the alarm. If the ceiling cannot be raised, the US debt will once again face the risk of default.
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Yellen said in a letter to leaders of both parties in Congress that the U.S. Treasury Department can currently take certain "extraordinary measures" to continue to prop up the U.S. government's debt, but such measures can only help for a limited time.
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