A week ago, Treasury Secretary Steven Mnuchin sent a letter to Speaker of the House Paul Ryan. The letter said we will have maxed out our borrowing at midnight tonight. Having reached its “statutory limit,” the outstanding debt of the U.S.…
The Problem With Hitting the Debt Ceiling Again
With the U.S. hitting a debt ceiling that is equal to the GDP, concern over U.S. spending is growing as the Congress again decides how to avoid a default.