12 days ago
Colorado Newsline
WASHINGTON — The nation reached its debt limit Thursday, beginning the uncertain process known as extraordinary measures, in which the U.S. Treasury Department uses accounting maneuvers to avoid defaulting on the debt. If disagreements about how to address the debt limit last too long, the Treasury Department will exhaust extraordinary measures and the nation would default on the debt for the first time. “We’re not getting rid of anything, and you can’t scare the bejesus out of people saying we’re going to get rid of Social Security, we’re going to privatize. She wrote to lawmakers again Thursday, telling them the country had in fact reached its debt limit and she had begun using some of the extraordinary measures to keep paying all of the country’s bills in full and on time. Such programs include Social Security, Medicare and Medicaid.
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