The United States is on the brink of hitting its $36 trillion debt limit, as announced by outgoing Treasury Secretary Janet Yellen in a letter to congressional leaders. This milestone is set to occur on Tuesday, prompting the Treasury Department to initiate extraordinary measures to ensure the government can meet its financial obligations.
With just three days left before President-elect Donald Trump assumes office, the pressure is mounting on congressional Republicans to address the looming debt ceiling. Failure to act in a timely manner could lead to a potential default, which would have severe repercussions on the global economy.
