Bloomberg: the U.S. government debt limit is back in effect

In the U.S. since Sunday, August 1, the state debt ceiling, which was suspended by Congress in 2019, is back in effect. This is reported by Bloomberg agency.

It is noted that in 2019 the national debt limit was set at $22 trillion. As of June this year, this value increased to $28.5 trillion.

In this regard, since last Friday, July 30, the U.S. Treasury Department is taking special measures, among them the suspension of sales of some state and local securities.

“This is the day the clock starts ticking,” commented David Wilcox of the Peterson Institute for International Economics.

In June, U.S. Treasury Secretary Janet Yellen said that the United States risks default if its debt burden continues to rise.