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.

6. Why does Secretary Lew have less time for extraordinary measures than in the past?

The federal government typically runs large deficits in February and March, as people file their tax returns and, in many cases, are owed refunds. Of course, the government can always delay sending out the refunds.

6 of 8
You've read  of  free articles. Subscribe to continue.