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Smart Celebrations: How to Stretch Your Holiday Budget Without Sacrificing Joy

  The holiday season often brings cheer, but it can also strain wallets. With rising costs and endless temptations, keeping spending under control requires a thoughtful approach. Here are some practical strategies to help you celebrate without financial stress: Set a clear budget : Decide how much you can afford before shopping, and stick to it. Prioritize experiences over things : Shared activities like baking, movie nights, or volunteering can be more memorable than expensive gifts. Shop smart : Compare prices online, take advantage of seasonal sales, and avoid last-minute splurges. Give creatively : Handmade gifts, personalized notes, or “time vouchers” (like babysitting or cooking a meal) often mean more than store-bought items. Limit impulse buys : Make a list before hitting the stores—or browsing online—and resist adding extras. Plan ahead for next year : Start a small savings fund in January to ease the burden when the holidays roll around again. By focusing on tho...
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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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