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Canada and France Plan Diplomatic Presence in Greenland

                                                             View over the town of Maniitsoq, Greenland. Canada and France are each preparing to establish official diplomatic offices in Greenland, a move widely interpreted as a response to heightened tensions created by renewed U.S. interest in acquiring the island. France’s Plans France intends to open a consulate in Greenland. French officials describe this as a political signal supporting Denmark’s sovereignty over the territory. The decision follows strong public and governmental pushback in Greenland against any suggestion of U.S. control. Canada’s Plans Canada is moving forward with plans to open a consulate in Nuuk, Greenland’s capital. Canadian officials frame this as part of a broader Arctic strategy focused on diplomacy, security, and...
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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.




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