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Ottawa Public Servants Brace for Major Job Cut Announcements in the New Year

  Federal Workers Await January Notices as Ottawa Prepares Job Cuts Federal public servants across Canada are bracing for a wave of job‑cut announcements expected to begin in January, as departments prepare to roll out the government’s latest cost‑cutting measures. Several federal organizations have already warned employees that details about workforce reductions will be shared early in the new year. The cuts stem from a government‑wide plan to reduce spending, streamline operations, and bring the public service back to what officials describe as a more sustainable size. Departments are expected to use a mix of attrition, restructuring, and workforce adjustments to meet their targets. Early notices have already begun circulating in some organizations, with more formal announcements anticipated once employees return from the holiday break. Unions representing federal workers say they are preparing for a period of uncertainty as the scope of the reductions becomes clearer. With ...
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U.S. Treasury Secretary Warns of Approaching Debt Ceiling Crisis


Treasury Secretary Janet Yellen has issued a stark warning that the United States could hit its debt ceiling as early as mid-January. In a letter to congressional leaders, Yellen stated that her agency would need to begin taking "extraordinary measures" to prevent the nation from breaching the debt limit. These measures are special accounting maneuvers intended to keep the government operating without defaulting on its obligations.

Yellen emphasized the urgency of the situation, urging Congress to act swiftly to protect the full faith and credit of the United States. The debt ceiling, which had been suspended until January 1, 2025, is expected to be reinstated on January 2, 2025. However, due to a scheduled redemption of nonmarketable securities held by a federal trust fund associated with Medicare payments, the Treasury does not expect to need to take extraordinary measures until January 14 to January 23.

The federal debt currently stands at approximately $36 trillion, a figure that has grown significantly over the years under both Republican and Democratic administrations. The spike in inflation following the COVID-19 pandemic has further increased government borrowing costs, making the situation even more critical.

Yellen's warning comes after President Joe Biden signed a bill last week that averted a government shutdown but did not address the debt ceiling issue. The bill was passed only after intense debate among Republicans over how to handle President-elect Donald Trump's demand to raise or suspend the debt limit.

As the new year approaches, the nation's fiscal health hangs in the balance, with lawmakers facing a critical decision on how to address the impending debt ceiling crisis.




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