Market
Which political party will be primarily responsible for resolving the debt ceiling issue by January 23, 2025?
2
Resolution / Starting Odds
Democrats • 25%
Republicans • 25%
Bipartisan effort • 25%
No resolution by deadline • 25%
Official announcements from the U.S. Congress or major political news outlets
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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Republican Party • 25%
No Resolution by June 30, 2025 • 25%
Bipartisan Effort • 25%
Democratic Party • 25%
Both equally • 25%
Republican Party • 25%
Democratic Party • 25%
Neither/Other • 25%
Bipartisan effort • 34%
Republican Party • 33%
Democratic Party • 33%
Democrats • 25%
No shutdown • 25%
Republicans • 25%
Both equally • 25%
Bipartisan Effort • 25%
Democrats • 25%
Republicans • 25%
Plan Fails • 25%
Both support abolition • 25%
Democrats support, Republicans oppose • 25%
Republicans support, Democrats oppose • 25%
Both oppose abolition • 25%
Temporary extension • 25%
Unresolved • 25%
Compromise with new conditions • 25%
Permanent abolition • 25%
Other • 25%
Debt ceiling raised • 25%
Debt ceiling suspended • 25%
Government shutdown occurs • 25%
Republicans support abolition • 25%
Neither support abolition • 25%
Democrats support abolition • 25%
Both support abolition • 25%
Neither • 25%
Democrats • 25%
Republicans • 25%
Both equally • 25%
Republican leaders • 25%
Bipartisan group • 25%
Democratic leaders • 25%
No significant opposition • 25%