Debt ceiling 101: eight questions about the latest round

Congress has until the end of February to raise the federal government’s borrowing limit, known as the debt ceiling, or the country risks going into default. How is this time different from the previous rounds of debt ceiling politics? Here’s a guide, plus the context.

4. What are these ‘extraordinary measures’?

The Committee for a Responsible Federal Budget (CRFB) lists some examples: The Treasury Department can prematurely redeem Treasury bonds held in federal employee retirement savings accounts (and replace them later, plus interest); halt contributions to some government pension funds; and borrow from money set aside to manage exchange-rate fluctuations.

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