![]() Secretary Yellen Sends Debt Limit Letter to Congress (9/28/21).Secretary Yellen Sends Debt Limit Letter to Congress (10/18/21).FAQs - Civil Service Retirement and Disability Fund ().Secretary Yellen Sends Debt Limit Limit Letter to Congress ().Assistant Secretary Davidson Sends Letter on Government Securities Investment Fund to Congress ().Treasury Report on Fund Operations and Status (). ![]() ![]() Report to Congress on Fund Operation and Status of the CSRDF/PSRHBF under the DISP ending Decem().FAQs on the Civil Service Retirement and Disability Fund and Postal Service Retiree Health Benefits Fund ().Secretary Yellen Sends Debt Limit Letter to Congress ().Secretary Yellen Sends Debt Limit Letter to Congress (05/15/23).Secretary Yellen Sends Debt Limit Letter to Congress (5/22/23).Secretary Yellen Sends Debt Limit Letter to Congress (5/26/23).Description of Extraordinary Measures ().Daily Debt Subject to Limit Activity ().Congressional leaders in both parties have recognized that this is necessary. Since 1960, Congress has acted 78 separate times to permanently raise, temporarily extend, or revise the definition of the debt limit – 49 times under Republican presidents and 29 times under Democratic presidents. That would precipitate another financial crisis and threaten the jobs and savings of everyday Americans – putting the United States right back in a deep economic hole, just as the country is recovering from the recent recession.Ĭongress has always acted when called upon to raise the debt limit. It would cause the government to default on its legal obligations – an unprecedented event in American history. It simply allows the government to finance existing legal obligations that Congresses and presidents of both parties have made in the past.įailing to increase the debt limit would have catastrophic economic consequences. The debt limit does not authorize new spending commitments. ![]()
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