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Primary Method for Managing U.S. Debt Limit by February 15, 2025?
2
Resolution / Starting Odds
Budget cuts • 25%
Issuance of new debt • 25%
Use of extraordinary measures • 25%
Debt restructuring • 25%
Official statements from the U.S. Treasury and financial news reports
Story
U.S. Treasury to Reach New Debt Limit by January 23, 2025, Extraordinary Measures Planned
Dec 27, 2024, 09:56 PM
U.S. Treasury Secretary Janet Yellen has informed congressional leaders 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 stated that the Treasury does not anticipate needing to implement extraordinary measures immediately on January 2 to prevent a U.S. default. However, she expects the new debt limit to be reached between January 14 and January 23, 2025, at which point the Treasury will need to start taking such measures. Yellen has urged Congress to act to defend the 'full faith and credit' of the United States, indicating that special accounting maneuvers may be necessary in mid-January to avoid breaching the debt limit.
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Fail to pass any extension • 25%
Pass a short-term extension • 25%
Other legislative solution • 25%
Pass a long-term extension • 25%
Vetoes • 33%
No action • 34%
Signs into law • 33%
Compromise with new conditions • 25%
Temporary extension • 25%
Unresolved • 25%
Permanent abolition • 25%
Plan Fails • 25%
Republicans • 25%
Democrats • 25%
Bipartisan Effort • 25%
Redeeming existing securities • 25%
Other measures • 25%
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Suspending investment in federal funds • 25%
