Treasury Secretary Warns US Is on Track to Hit Debt Ceiling
Video Credit: Wibbitz Top Stories - Duration: 01:31s - Published
Treasury Secretary Warns US Is on Track to Hit Debt Ceiling
Treasury Secretary , Warns US Is on Track , to Hit Debt Ceiling .
On January 13, Treasury Secretary Janet Yellen
told Congress that the United States
would hit the nation's debt limit next week.
ABC News reports that the announcement sets up a showdown between Democrats and Republicans who have vowed to
couple any increase in the debt ceiling with spending cuts.
According to Yellen, on January 19, the U.S.
will hit its $31.4 trillion borrowing limit.
While Treasury is not currently able
to provide an estimate of how long
extraordinary measures will enable us
to continue to pay the government’s
obligations, it is unlikely that cash
and extraordinary measures will
be exhausted before early June, Janet Yellen, U.S. Treasury Secretary, via ABC News.
Yellen reportedly added that the Treasury Department will begin implementing "extraordinary measures" to manage the government's cash flow.
ABC News reports that those
measures could include cutting
investments in some retirement funds.
Independent analysts reportedly
caution that the U.S. is not likely to hit
the debt ceiling until late summer or early fall.
In 2011, the U.S. hit the debt
ceiling, which ultimately cost
the nation its AAA rating
Julie and Todd Chrisley are opening up about the pain, perspective, and personal growth that came with prison -- and the pardon that set them free. In a new.. TMZ.com
A massive new tax and spending bill, championed by Donald Trump as his "big, beautiful bill," has cleared major congressional hurdles and is now facing a final, contentious vote. The legislation proposes a sweeping overhaul of the US economy, extending Trump's 2017 tax cuts while significantly boosting defense and energy spending and allocating new funds for border security. This move has ignited a political firestorm in Washington D.C., creating deep divisions not only between parties but within the Republican ranks and even straining Trump's relationship with high-profile supporters like Elon Musk.
The funding for this ambitious bill is at the heart of the controversy. The Republican proposal outlines deep cuts to essential social safety nets, including Medicaid, the Supplemental Nutrition Assistance Program (SNAP), and other low-income assistance programs. According to the Congressional Budget Office, these changes could result in nearly 12 million Americans losing their health coverage. The bill also introduces new work requirements for childless, able-bodied adults to receive Medicaid and SNAP benefits.
The financial implications are staggering. The bill is projected to add an estimated $3.3 trillion to the national debt over the next decade, a figure that has caused alarm and division among fiscal conservatives in the GOP. Social Democrats like Bernie Sanders have fiercely condemned the bill, labeling it a "handout to Trump’s rich allies." In a tense Senate session, Vice President JD Vance had to cast a tie-breaking vote to advance the legislation.
Despite the backlash, the bill contains provisions aimed at working-class voters, such as eliminating federal taxes on tips and overtime pay. However, House Democrats have blasted the legislation as a "reckless, regressive GOP tax scam" ahead of the crucial midterm elections. As the final vote looms, Trump has urged Republican lawmakers to "stay united" and pass the bill, which also includes a provision to raise the debt ceiling by $5 trillion.
#DonaldTrump
#USTaxBill
#USPolitics
#ElonMusk
#BreakingNews
#OneindiaNews
#Americanews
#Republicans
#Democrats
#BernieSanders
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House Democratic Leader Hakeem Jeffries took to the floor for hours, delivering a marathon speech aimed at derailing former President Trump’s controversial “Big Beautiful Bill.” Branding it “one big, Ugly bill,” Jeffries slammed the legislation as a reckless handout to corporations and a threat to working families. Republicans accused Democrats of political grandstanding, while Trump allies vowed to push the bill through regardless.
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In a massive second-term victory, U.S President Donald Trump’s $4.5 trillion “Big Beautiful Bill” has officially cleared the U.S. Congress. Passed by a narrow margin of 218–214 in the House, the legislation delivers sweeping tax cuts, permanent extensions of his 2017 reforms, and major funding for border security and immigration enforcement. Despite deep Republican divisions and united Democratic opposition, Trump is set to sign the bill into law at a high-profile July 4th ceremony. What does this mean for America’s economy and the 2026 elections? Let’s break it down.
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US Congress gives final approval to Trump's signature tax bill and sends it to him to sign
Democratic leader Hakeem Jeffries of New York delayed voting by holding the floor for more than eight hours with a record-breaking speech against the bill.
READ MORE : http://www.euronews.com/2025/07/03/us-congress-gives-final-approval-to-trumps-signature-tax-bill-and-sends-it-to-him-to-sign
Subscribe to our channel. Euronews is available on Dailymotion in 12 languages
Credit: euronews (in English) Duration: 01:10Published
Rama Duwaji—artist, activist, and wife of NYC Democratic mayoral nominee Zohran Mamdani—has stepped into the spotlight after months of silence. The 27-year-old Syrian-American illustrator, known for her pro-Palestinian work, had avoided campaign publicity, sparking controversy and speculation. Critics claimed her art and political stance made her a liability.
But on June 24, as Mamdani celebrated his win, she stood beside him—silent, composed, present. Born in Texas, raised partly in Dubai, Duwaji's work explores Gaza, race, identity, and dissent. Her pieces have supported Palestinian students and questioned U.S. policies. She and Mamdani met on a dating app, married in a private ceremony, and have since become one of NYC’s most-watched political couples. Now, as Mamdani eyes City Hall, all eyes are on Rama Duwaji—the woman who may soon be NYC’s first lady.
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A political firestorm has erupted after Elon Musk publicly declared his support for Rep. Thomas Massie, a Republican from Kentucky who has drawn the ire of Donald Trump. Massie, known for opposing Trump’s One Big Beautiful Bill and calling out recent Iran strikes as unconstitutional, now finds himself targeted by Trump in a fiery GOP primary feud.
Trump labeled Massie a “pathetic loser” and vowed to campaign hard against him. However, Musk’s financial support and vocal backing on X could change the game. Former Rep. Justin Amash and grassroots conservatives have also rallied behind Massie, portraying him as a principled fiscal conservative resisting bloated spending. With nearly $309K raised in just a week, Massie’s campaign gains momentum amid the MAGA-driven backlash. The battle now highlights a deeper rift in the Republican Party — between loyalty to Trump and commitment to independent conservative values.
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U.S President Donald Trump touched down in Iowa for a fiery rally just hours after Congress passed his $4.5 trillion ‘Big Beautiful Bill’. In front of a raucous crowd at the Iowa State Fairgrounds, Trump celebrated the massive tax cut and border security package — calling it the biggest legislative win of his presidency.
Trump slammed Democrats for voting against the bill, warning they will “regret this forever.” The former president praised Republicans for delivering on core promises and said the legislation will launch the U.S. into “a rocket ship economy.”
With 2024 behind him and 2028 in sight, Trump declared that this victory marks a turning point in America’s future. Will this be the defining moment of his second term?
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