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US debt ceiling reinstated, prompting challenges for Republicans ahead of Trump's inauguration

share-iconThursday, January 02 comment-icon2 weeks ago 4 views
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cnnCNN
US debt ceiling reinstated, prompting challenges for Republicans ahead of Trump's inauguration

Credited from: CNN

  • The **US debt ceiling** was reinstated on Thursday, presenting a significant challenge for **congressional Republicans** in 2025.
  • **President-elect Donald Trump** urges GOP lawmakers to address the ceiling before he takes office on **January 20**.
  • The current debt stands at nearly **$36.2 trillion** and is projected to reach the limit between **January 14 and 23**.
  • **Treasury Secretary Janet Yellen** will inform Congress when extraordinary measures are required to avoid a **potential default**.
  • GOP lawmakers face pressure from Trump, who wants immediate action on the issue, emphasizing the need for **spending cuts** alongside any debt ceiling increase.

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