Skip to main content

Featured

Israeli Strikes Level Gaza City Towers Amid Mass Evacuations

  Smoke and flames rise after an Israeli military strike on a building in Gaza City, Friday, Sept. 12, 2025. Israeli forces have destroyed multiple high-rise buildings in Gaza City following evacuation warnings to residents, as the military intensifies its campaign to seize control of the area. The Israel Defense Forces (IDF) confirmed striking three towers on Sunday — including the Kawthar Tower, Mahna Tower, and a building on the Islamic University campus — which it said were being used by Hamas for surveillance and operational planning. The demolitions come days after the IDF ordered the entire population of Gaza City to evacuate ahead of a planned ground offensive. Israeli officials estimate that more than 300,000 Palestinians have fled so far, though hundreds of thousands remain. The United Nations and aid agencies warn that the displacement of such large numbers will worsen an already dire humanitarian crisis, with overcrowding and shortages reported in southern Gaza. Loca...
Post a Comment
Read more

article

Labels

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.




Labels:

Comments

Post a Comment