© 2024 KVPR | Valley Public Radio - White Ash Broadcasting, Inc. :: 89.3 Fresno / 89.1 Bakersfield
89.3 Fresno | 89.1 Bakersfield
Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations
Double your impact! New monthly gifts are matched through March 19. Give now.

U.S. Faces October Deadline On Debt Ceiling

Not being able to pay your bills is never a good thing — especially when you’re the United States government.

Treasury Secretary Jack Lew has announced that the U.S. will hit its $16.7 trillion borrowing limit in mid-October.

In 2011, the White House and congressional Republicans feuded over raising the debt ceiling, spending weeks trying to come to an agreement. Those talks failed and the financial markets roiled in reaction.

Failure to reach an agreement would trigger a partial government shutdown, and the Treasury Department would be unable to pay America’s bills.

Guest

Copyright 2021 NPR. To see more, visit https://www.npr.org.