<br><div><aside class="gnt_em gnt_em__fp gnt_em_vp__tp gnt_em__el" aria-label="Video - Here's what happens if Congress does not increase the debt ceiling for the US"/><p class="gnt_ar_b_p">It’s coming down to the wire for Congress to reach a deal on the national debt ceiling before the U.S. government runs out of money to pay its bills. </p><p class="gnt_ar_b_p"><a target="_blank" href="https://home.treasury.gov/news/press-releases/jy1188" rel="noopener" data-t-l=":b|e|k|${u}" class="gnt_ar_b_a">Treasury Secretary Janet Yellen warned lawmakers</a> that they have until Thursday to resolve the debt limit. Otherwise, the Treasury will have to pay its bills late and the United States could default on its debt – something that has never happened. </p><p class="gnt_ar_b_p">What's more, it could be the final blow that puts the fragile economy in a recession, Yellen said in a letter last week.</p><p class="gnt_ar_b_p">Lawmakers are at odds over raising the federal borrowing limit, or the debt ceiling, which allows the U.S. government to make good on its financial obligations. That ceiling, or the amount the government can borrow, stands at $31.4 trillion. </p><aside aria-label="advertisement" class="gnt_m gnt_x gnt_x__lbl gnt_x__al"/><p class="gnt_ar_b_p">The national debt, the amount the government owes its creditors, was hovering slightly above that as of Wednesday afternoon.</p><p class="gnt_ar_b_p"><strong class="gnt_ar_b_al">Lawmakers squabble as nation nears limit:</strong><a target="_blank" href="/story/news/politics/2023/01/18/debt-ceiling-republicans-congress-default-economic-catastrophe/11066657002/" rel="noopener" data-t-l=":b|e|spike click:7|${u}" class="gnt_ar_b_a">What happens if the US hits the debt ceiling?</a></p><p class="gnt_ar_b_p"><strong class="gnt_ar_b_al">Debt ceiling explainer:</strong><a target="_blank" href="/story/news/politics/2023/01/13/treasury-department-us-debt-ceiling-republicans/11047076002/" rel="noopener" data-t-l=":b|e|spike click:8|${u}" class="gnt_ar_b_a">U.S. Treasury Department to take 'extraordinary measures' as government nears debt ceiling</a></p><p class="gnt_ar_b_p">The Treasury Department can meet certain financial obligations using what Yellen referred to as "extraordinary measures" through June, The Bipartisan Policy Center estimates.</p><aside aria-label="advertisement" class="gnt_m gnt_x gnt_x__lbl gnt_x__al"/><p class="gnt_ar_b_p">But there are several programs that would be jeopardized if the debt ceiling isn't raised and other measures are exhausted.</p><p class="gnt_ar_b_p">Here is what's at stake:</p><h2 class="gnt_ar_b_h2">Social Security, Medicare and Medicaid </h2><p class="gnt_ar_b_p">Social Security could be impacted...</p></div> <style> .wrapper { text-align: center; } </style> <div class="wrapper"> <a class="button" href ="https://news.google.com/__i/rss/rd/articles/CBMiX2h0dHBzOi8vd3d3LnVzYXRvZGF5LmNvbS9zdG9yeS9tb25leS9lY29ub215LzIwMjMvMDEvMTgvZGVidC1jZWlsaW5nLWRlYWRsaW5lLTIwMjMvMTEwNzQ2NzEwMDIv0gEA?oc=5">Read more <span>➤</span></a> </div>