Debt Limit Analysis: Everything You Need to Know in 30 Slides
The federal debt limit was reinstated at $22.0 trillion on March 2, 2019.
Due to the nature of the legislation that suspended the debt limit, the government immediately ran up against its limit on March 2.
For the 8th time in the past eight years, the Treasury Secretary has deployed emergency borrowing authority – known as “extraordinary measures” – to continue fully funding government operations for an additional period of time.
If Congress does not extend the debt limit, BPC projects that Treasury will be unable to meet all of its financial obligations at some point in fall 2019 (what we call the “X Date”).