The United States on Thursday, January 19 hit its debt ceiling set by Congress of $31.4 trillion. The debt ceiling is defined by the U.S. Treasury as the amount of money the treasury can borrow to pay its bills. U.S. Senator Cynthia Lummis (R-WY) recently weighed-in with her thoughts on raising the debt ceiling to avoid default.
Senator Lummis said the problem is that since 2020, spending has increased so dramatically because of the response to COVID that the House and Senate have decided that they need a reset at the higher COVID rate because that’s what they’ve become accustomed to.
U.S. Secretary Janet Yellen sent a note to congressional leadership Friday stating that the Treasury Department would begin using “extraordinary measures” to pay the country’s bills but that Congress must reach a resolution on the debt ceiling by June to avoid defaulting on its debt.
Repeal the last two huge spending bills!
Isn’t it convenient to lay blame on the “other party” when “your party” was as guilty as kid caught with hand in candy jar over spending. Trump and his cohorts ran up the debt by 8 TRILLION DOLLARS under his administration. Where is the uproar over that…lummis?
Trump and his cohorts ran up the national debt by 8 TRILLION bucks…why is there no moaning about that? 25% of this nations historical debt in just 4 years…yet it’s Biden this and Biden that.