The United States suspended its debt ceiling in 2019. That ends this weekend.
CBSN
The Treasury Department runs into an important deadline this weekend, when a 2019 suspension of the government's debt limit — known as the debt ceiling — expires Saturday. That forces the Treasury Department to perform what are called "extraordinary measures" so the government can continue paying its obligations as lawmakers prepare to face off over the issue moving forward.
The debt ceiling is the amount the Treasury can borrow on behalf of the public. Raising or suspending that borrowing limit does not dictate how much money the government spends, but allows the U.S. to pay what has already been approved. The debt ceiling was suspended in 2019 under President Donald Trump. On Friday, the Treasury Department started taking its "extraordinary measures" ahead of the looming deadline and warned congressional leaders in a recent letter that the Treasury will need to start taking additional steps starting Monday to keep the U.S. from defaulting on its obligations if congressional action was not taken.
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