Market
What will be the outcome of the U.S. debt ceiling issue by January 23, 2025?
3
Resolution / Starting Odds
Debt ceiling raised • 25%
Debt ceiling suspended • 25%
Extraordinary measures initiated without raising/suspending • 25%
Other outcomes • 25%
Official announcements from the U.S. Congress or U.S. Treasury Department
Story
Yellen Says U.S. to Hit Debt Ceiling by Jan. 23, Urges Congress to Act to Avoid Default
Dec 27, 2024, 11:09 PM
US Treasury Secretary Janet Yellen has informed Congress that the United States is expected to reach its new debt limit between January 14 and January 23, 2025. In a letter sent to congressional leaders on December 27, 2024, Yellen explained that when the debt limit pause ends on January 2, 2025, a new debt limit will be established based on the amount of outstanding debt as of January 1, 2025. She noted that the Treasury does not anticipate needing to take extraordinary measures immediately on January 2, 2025, but expects it will be necessary to begin such measures between January 14 and January 23 to prevent the country from defaulting on its obligations. Yellen urged Congress to act promptly to raise or suspend the debt ceiling, emphasizing the importance of protecting the 'full faith and credit' of the United States.
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Debt ceiling suspended • 25%
Debt ceiling raised • 25%
Extraordinary measures extended • 25%
U.S. defaults • 25%
Debt ceiling suspended • 25%
Debt ceiling raised • 25%
No action taken • 25%
Other • 25%
Debt ceiling suspended • 25%
No resolution, extraordinary measures continue • 25%
Debt ceiling raised • 25%
Other • 25%
No action taken • 25%
Temporary suspension of debt ceiling • 33%
Debt ceiling raised • 33%
Debt ceiling not addressed • 34%
Temporary extension • 25%
Debt ceiling increased • 25%
No resolution • 25%
Debt ceiling remains unchanged • 25%
Default on debt • 25%
Debt limit suspended • 25%
Extraordinary measures implemented • 25%
Debt limit raised • 25%
No change • 25%
Abolished • 25%
Extended to 2029 • 25%
Extended with a different date • 25%
Increased • 25%
Abolished • 25%
Suspended • 25%
Unchanged • 25%
Government shutdown • 25%
Default on debt • 25%
Debt ceiling raised • 25%
Debt ceiling suspended • 25%
Government default • 25%
Other resolution • 25%
Debt ceiling suspended • 25%
Debt ceiling raised • 25%
Debt ceiling raised • 25%
Debt ceiling unchanged • 25%
Other outcome • 25%
Debt ceiling abolished • 25%
Other • 25%
Abolished • 25%
Extended • 25%
Unchanged • 25%