12/20/2024

Time is Running Short to Avert a Government Shutdown

This comes after the latest funding bill is rejected

A day before a potential government shutdown, the House rejected President-elect Donald Trump's new plan Thursday to fund operations and suspend the debt ceiling, as Democrats and dozens of Republicans refused to accommodate his sudden demands.

House Speaker Mike Johnson appeared determined to reassess before Friday's midnight deadline, saying Congressional leaders plan to regroup to determine next steps.

What is the debt ceiling? It's the total amount of money that the government can borrow to meet its existing legal obligations. For the Treasury Department to borrow above that amount, the limit must be raised by Congress.

Please select this link to read the complete article from The Associated Press.