From: Counting the Cost

Treasury Secretary Janet Yellen warns of a US default by early June if Congress fails to raise debt ceiling.

The national debt of the United States is now six times what it was at the start of this century. Despite its growing liabilities, the country has never defaulted on its payments.

However, the US has hit its $31.4 trillion borrowing limit. This means the government could run out of cash to pay its bills in less than five months. It also puts Congress on the clock – to raise or suspend the debt ceiling.

But getting lawmakers to agree on what action to take is expected to be a tough battle.

Elsewhere, Britain’s National Health Service is at a breaking point. Can it be reformed?

Source link

You May Also Like

Immigration Crisis Complicates Biden’s Foreign Policy Priorities

The White House portrayed it as a step toward compromise. When President…

Liberal U.S. lawmakers withdraw Ukraine letter after blowback

WASHINGTON, Oct 25 (Reuters) – A group of liberal U.S. Democrats withdrew…

Remains discovered in US match missing British actor Julian Sands

Sands, famous for his role in the film A Room with a…

Greece flooding: ‘Scared’ British family told they cannot leave their hotel after ‘biblical’ rainfall

A “scared” British family have been told they cannot leave their hotel…