House Democrats Propose Eliminating Debt Ceiling; Yellen Rejects $1 Trillion Coin

House Democrats Propose Eliminating Debt Ceiling; Yellen Rejects $1 Trillion Coin
A view of the U.S. Capitol in Washington on Oct. 6, 2021. Drew Angerer/Getty Images
Andrew Moran
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Dozens of House Democrats say it’s time to eliminate the debt ceiling and instead allow unlimited borrowing so that the federal government can spend whatever it needs.

U.S. lawmakers are entrenched in another battle over the debt ceiling after Washington hit its borrowing limit of about $31.4 trillion last week. As a result, the Treasury Department has employed “extraordinary measures” to help cover the government’s obligations until June, when these tools will be exhausted.

Andrew Moran
Andrew Moran
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Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."
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