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Primary Political Responsibility for Debt Limit by January 23, 2025?
2
Resolution / Starting Odds
Democratic Party • 33%
Republican Party • 33%
Bipartisan effort • 34%
Statements from party leaders and official Congressional records
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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No resolution by deadline • 25%
Democrats • 25%
Republicans • 25%
Bipartisan effort • 25%
Bipartisan Effort • 25%
Republicans • 25%
Democrats • 25%
Plan Fails • 25%
Bipartisan group • 25%
Republican leaders • 25%
Democratic leaders • 25%
No significant opposition • 25%
Pass a short-term extension • 25%
Fail to pass any extension • 25%
Other legislative solution • 25%
Pass a long-term extension • 25%
Vetoes • 33%
Signs into law • 33%
No action • 34%
Neither/Other • 25%
Democratic Party • 25%
Republican Party • 25%
Both equally • 25%
No • 50%
Yes • 50%
Republicans • 25%
Democrats • 25%
Bipartisan Effort • 25%
No Effort • 25%
Economic stability concerns • 25%
Political pressure from Trump • 25%
Lack of consensus • 25%
Other • 25%
Debt ceiling suspended • 25%
Extraordinary measures initiated without raising/suspending • 25%
Other outcomes • 25%
Debt ceiling raised • 25%