Skip to main content

Featured

UK’s Refusal to Allow U.S. Iran Strike Plans Sparks Diplomatic Fallout

                                                       British PM Keir Starmer and US President Donald A growing diplomatic rift has emerged between London and Washington after the United Kingdom declined a U.S. request to use RAF bases for potential military strikes on Iran. British officials reportedly argued that authorizing such operations could breach international law, prompting Prime Minister Keir Starmer’s government to block access to key facilities, including RAF Fairford in Gloucestershire. The decision has reportedly angered President Donald Trump, who has been weighing military options amid rising tensions with Tehran. Several outlets note that the dispute has spilled into other areas of U.S.–UK cooperation, including disagreements over the future of the joint base at Diego Garcia and Trump’s withdrawal of sup...
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