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Outcome of U.S. Debt Ceiling Situation by March 31, 2025?
4
Resolution / Starting Odds
Debt ceiling raised • 25%
Debt ceiling suspended • 25%
Government shutdown • 25%
Default on debt • 25%
Official U.S. government announcements and credible news sources
Story
Yellen Warns of $36 Trillion Debt Limit Breach on January 21, Urges Congress to Act
Jan 17, 2025, 10:22 PM
Outgoing U.S. Treasury Secretary Janet Yellen has informed congressional leaders that the U.S. government will reach its statutory debt limit of $36 trillion on January 21 and will begin employing 'extraordinary measures' to avoid a default. These measures, which include special accounting maneuvers, are intended to prevent the nation from breaching the debt ceiling. Yellen urged Congress to act promptly to protect the full faith and credit of the United States. The debt limit was reinstated on January 2 after a suspension in 2023. Yellen's letter marks her second notification in the ongoing debate over the debt limit, and it is likely her last before the transition to the Trump administration on January 20.
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Extraordinary measures extended • 25%
Government shutdown • 25%
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