Congress’s first task post-midterms is to figure out how to keep funding America—and that’s before it addresses the $40 trillion national debt
Source: Fortune ·
"Washington should heed the demand of voters to focus on issues impacting their pocketbook while also living up to the responsibility entrusted in elected leaders to be stewards of our nation’s fiscal future."
From the source
For the next two years, President Trump must run his administration with a Congress controlled by the opposing Democrats. And in the power struggle to come, a key battleground is already being set out: How to keep the lights on at federal government. A number of budget deadlines are marked on Washington, D.C.’s calendar: First is December 11, the day on which a temporary 72-hour funding bill signed by the president in September will expire.After that is a loose circle around fall 2027, when the U.S. debt ceiling will need to be raised. At the moment, that ceiling stands at $41.1 trillion, of which $40.5 trillion has been borrowed, per Treasury data. And while one might assume it would take some time—even for an economy as huge as the United States of America’s—to borrow the best part of $1 trillion, analysts expect that point will be reached approximately a year from now. And of course, that’s before anyone gets to the conversation being urged by budget watchdogs about the deficit…
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