What is the debt ceiling? The debt ceiling is a cap on the amount of money the U.S. government can borrow to pay its debts. Every year, Congress passes a budget that includes government spending ...

The ceiling is routinely raised to accommodate repayment of the country’s debt. The last time it was raised was in 2021. The debt ceiling was suspended in June 2023 and reinstated in January 2025.

The nation’s debt ceiling was reinstated Thursday, giving congressional Republicans yet another divisive challenge to contend with in 2025. President-elect Donald Trump is demanding that GOP ...

During the first Trump administration, it was raised three times, and in 2023 Congress agreed to a suspension of the ceiling that will expire on Jan. 1, 2025. What a Default Would Mean ...

President-elect Donald Trump confounded members of Congress and flipped the government spending debate on its head when he demanded a premature increase to the debt ceiling on “Biden’s watch ...

What happens when we hit the debt limit? Hitting the debt limit isn't catastrophic. According to U.S. Treasury Secretary Janet Yellen, the U.S. had already reached that ceiling as of Jan. 18. 2023.

Sen. Elizabeth Warren, D-Mass., wrote that President Donald Trump was right about wanting to eliminate the debt ceiling, while still opposing the White House's large spending bill.