GOP Rep: Hitting The Debt Ceiling Is An Opportunity To Rein In Spending

Man's hand holding stack of US currency with some bills flying away, blue background

At a glance

  • The federal government is set to hit its statutory debt limit this upcoming Thursday.
  • In a letter to Congressional leaders on Friday, Treasury Secretary Janet Yellen warned that the government must begin taking “extraordinary measures” to prevent the United States from defaulting on its debts.
  • The measures expected to be taken this month include suspending new investments in the Civil Service Retirement and Disability Fund, the Postal Service Retiree Health Benefits Fund, and the Government Securities Investment Fund.

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