The US debt limit touched an all-time high of $31.41 trillion on Thursday. The debt ceiling is the legal limit on how much the federal government can borrow. The cap was last extended in December 2021 to $31.4 trillion. Republicans aim to use the congressionally mandated federal debt ceiling to exact spending cuts from President Joe Biden and Democratic-led Senate.
by Srishty Choudhury
on 19 Jan