US Treasury's Contingency Plan for Debt-Ceiling Deadline Raises Concerns.
TL;DR Summary
The Treasury Department is reportedly preparing to implement a contingency plan, crafted after the 2011 borrowing-limit standoff, to change how federal agencies' payments are processed if Congress fails to raise the debt ceiling by the June 1 deadline. The plan includes using the trillion-dollar coin, premium bonds, and the 14th Amendment to avert disaster.
Topics:business#biden-administration#contingency-plan#debt-ceiling#federal-agencies#politics#treasury-department
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