United States: National Debt Exceeds $36,000 Billion USD

US Treasury Secretary Janet Yellen recently warned that the US debt ceiling could be reached as early as mid-January 2025. According to her statement, the Treasury is expected to reach this new ceiling between January 14 and January 23, when special measures will need to be taken to avoid default. United States: The public debt ceiling could be reached by mid-January The national debt is a legal limit on the total amount of money that the US government is allowed to borrow to finance its current obligations. In the United States, this limit has been suspended until January 1, 2025, but a new limit will be set on January 2, corresponding to the amount of debt issued by the Department of the Treasury. If this limit is reached, the Treasury Department will have to take extraordinary measures to continue financing government operations without meeting its payment obligations. The special measures mentioned by Janet Yellen in the letter to Congress include adjusting accounting and postponing some expenditures to free up money and avoid immediate default. These measures buy time, but they are not a long-term solution. If Congress does not raise or suspend the debt ceiling once again, the United States risks default, which would have serious consequences for the economy. Political tension Raising the debt ceiling has been a politically contentious issue in the United States for many years. Conservative individuals, in particular, often oppose increasing the national debt, which is now over $36 trillion. Janet Yellen has urged Congress to act quickly to protect the country's creditworthiness and avoid a financial crisis. In summary, the current situation highlights the economic and political challenges that the United States is facing. The Congress will need to make important decisions in the coming weeks to prevent a potential debt crisis from causing serious consequences.