Debt ceiling fight is just getting started

Posted on AllSides January 17th, 2023
From The Left
Data: U.S. Treasury Department, FactSet; Chart: Thomas Oide/Axios

We're in the first inning of another seemingly inevitable debt limit fight.

Driving the news: Treasury Secretary Janet Yellen informed Congressional leaders Friday that the federal government would likely hit the debt limit on Thursday. As a result, Treasury will have to take "extraordinary measures" to keep paying creditors who own the U.S. government's bonds.

These measures are things like running down Treasury's cash balances and delaying making payments to certain government pension funds, to make sure there's enough money to pay bondholders.

The big picture: Votes to raise the debt ceiling — once...

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