Servicemen of the Spalah Unmanned Systems Battalion of the 28th Separate Mechanized Brigade of the Armed Forces of Ukraine attend a basic military exercise, amid Russia's attack on Ukraine, in Kharkiv region, Ukraine November 25, 2025. The recently unveiled 28-point U.S. peace plan for Ukraine has ignited a storm of criticism after reports revealed it was largely based on a document originally drafted by Russia. The proposal was sent by Moscow to senior U.S. officials in October, shortly after President Donald Trump met with Ukrainian President Volodymyr Zelenskyy in Washington. The plan includes provisions that mirror long-standing Russian demands, such as territorial concessions in eastern Ukraine and restrictions on Kyiv’s NATO ambitions. These terms have been widely rejected by Ukraine in past negotiations, fueling suspicions that the U.S.-backed framework amounts to a “peace without Ukraine” scenario. Ukrainian officials, civil society groups, and international allies ha...
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.
Comments
Post a Comment