The News
The US debt ceiling was reinstated, again raising the specter of the world’s biggest economy defaulting on its borrowing, all in the fractious run-up to President-elect Donald Trump’s return to office.
The Treasury Secretary said that officials will soon have to start taking extraordinary measures to avert such a default, which analysts have warned — on the multiple prior occasions the US has neared its debt ceiling — could throw the global economy into turmoil.
Given Republicans control the White House and both houses of Congress, a resolution should be attainable, but as Politico noted, “the fiscal time bomb illustrates the struggle Trump and Republican leaders face,” as they grapple with whether to court Democrats or acquiesce to harder-line conservative demands.
