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2023 United States debt-ceiling crisis: Difference between revisions
2023 United States debt-ceiling crisis (view source)
Revision as of 18:30, 23 May 2023
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=== Republicans Bill === | === Republicans Bill === | ||
The bill would suspend the debt ceiling through either March 31, 2024 or a $1.5 trillion increase from the current $31.4 trillion ceiling - whichever comes first. CBO finds the bill would save $4.8 trillion through FY 2033, with about $4.2 trillion of policy savings and $543 billion of interest savings. | The bill would suspend the debt ceiling through either March 31, 2024 or a $1.5 trillion increase from the current $31.4 trillion ceiling - whichever comes first. CBO finds the bill would save $4.8 trillion through FY 2033, with about $4.2 trillion of policy savings and $543 billion of interest savings. As a result, debt as a share of GDP would rise less than half as fast as currently projected – from 98 percent of GDP to 106 percent by FY 2033, compared to 118 percent of GDP projected under current law. | ||
==== What's in the Limit, Save, Grow Act of 2023? ==== | ==== What's in the Limit, Save, Grow Act of 2023? ==== | ||