Congressional Budget Office

US Nears Debt Default as October 18 Deadline Looms

By Matt Egan, The United States could be just weeks away from defaulting on its debt for the first time ever. The $28.4 trillion debt limit was reinstated August 1. Since then, Treasury Secretary Janet Yellen has been keeping the nation’s finances afloat by using emergency accounting maneuvers. Known as “extraordinary measures,” these steps allow the government

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