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- ABC News Browse Debt ceiling latest news and updates, watch videos and view all photos and more. Join the discussion and find more about Debt ceiling at abcnews.com Debt Ceiling Definition - Investopedia DEFINITION of 'Debt Ceiling' The amount of money the government is legally allowed to borrow to meet its existing legal obligations, including Social Security and ... Debt Ceiling | Definition of Debt Ceiling by Merriam-Webster Define debt ceiling: the maximum amount of money that the government of a country is legally allowed to borrow
U.S. Treasury Secretary Yellen warned Congress that the government has less than three weeks to raise the debt limit or risk default and financial instability.
Janet Yellen, the U.S. Treasury Secretary, on Friday cautioned that the government will reach its borrowing limit on Tuesday, necessitating the use of "extraordinary measures" to prevent a potential default.
Signs of life being breathed back into China's economy and a strong rally on Wall Street on Friday bode well for Asian markets on Monday, although nervousness around President-elect Donald Trump's inauguration could temper the optimism. U.S. markets will be closed for Martin Luther King Jr. Day, so global liquidity will be lighter than usual, and U.S. debt ceiling jitters are back in sharp focus. Investors have broadly welcomed the 'market-friendly' parts of Trump's expected agenda like tax cuts and deregulation.