US Debt Ceiling Talks Heat Up with Republican Demands for Spending Cuts
Republican House Speaker Kevin McCarthy vowed Monday to pass legislation to lift the US debt ceiling -- but only with federal spending caps. The United States hit its $31.4 trillion borrowing limit in January, prompting the Treasury to take "extraordinary measures" that allow it to continue financing the government's activities. But if the debt ceiling is not raised or suspended by Congress before current measures are exhausted, the US government risks defaulting on payment obliga...
Source: news18.com