Market
Who will oppose raising debt limit before January 23, 2025?
2
Resolution / Starting Odds
Republican leaders • 25%
Democratic leaders • 25%
Bipartisan group • 25%
No significant opposition • 25%
Public statements from U.S. Congress members or major news outlets
Story
Yellen Warns U.S. Will Hit Debt Limit Between January 14 and 23, 2025; Extraordinary Measures Needed
Dec 28, 2024, 12:00 AM
U.S. Treasury Secretary Janet Yellen has announced that a new debt limit will be established on January 2, 2025, based on the outstanding debt at the end of the previous day. Yellen indicated that the Treasury expects to reach this new limit between January 14 and January 23, 2025. At that point, extraordinary measures, which are special accounting maneuvers, will be necessary to prevent the U.S. from defaulting on its obligations. In her communication to Congress, Yellen emphasized the importance of lawmakers taking action to protect the full faith and credit of the United States, urging them to raise the debt limit promptly to avoid economic repercussions. The Treasury does not anticipate needing to initiate these extraordinary measures on January 2, but without action from Congress, the risk of default could escalate significantly by mid-January.
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Bipartisan effort • 34%
Republican Party • 33%
Democratic Party • 33%
Democrats • 25%
No resolution by deadline • 25%
Bipartisan effort • 25%
Republicans • 25%
Other fiscal measures implemented • 25%
Raise the debt ceiling • 25%
Suspend the debt ceiling • 25%
No action taken • 25%
Pass a short-term extension • 25%
Pass a long-term extension • 25%
Fail to pass any extension • 25%
Other legislative solution • 25%
