Alva Review-Courier -

By JOSH BOAK 

US Treasury buys time for Biden and GOP on debt limit deal

 

January 20, 2023



WASHINGTON (AP) — The U.S. government bumped up against its debt limit Thursday, prompting the Treasury Department to take "extraordinary" accounting steps to avoid default — as friction between President Joe Biden and House Republicans raised concern about whether the U.S. can sidestep an economic crisis.

The Treasury Department said in a letter to congressional leaders it had started taking "extraordinary measures" as the government had run up against its legal borrowing capacity of $31.381 trillion. An artificially imposed cap, the debt ceiling has been increased roughly 80 times sin...



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