By next Oct, we all may be grabin' our azzes to hold on.
https://www.washingtonpost.com/business/economy/fight-over-debt-ceiling-could-accelerate-trumps-budget-clash-with-gop/2017/02/28/cd7f0c9e-fdc7-11e6-99b4-9e613afeb09f_story.htmlFight over debt ceiling could accelerate Trump’s budget clash with GOPBy Damian Paletta By Damian Paletta February 28
President Trump will have to deploy “extraordinary” measures in two weeks to avoid a default on the debt if Congress does not move to raise the federal borrowing cap, a little-recognized deadline that could expedite his showdown with Congress over taxes and spending.
Trump has proposed giant cuts to tax rates for businesses and individuals, as well as new spending on infrastructure and military programs. His advisers have said those changes will boost the economy, creating more money for government spending.
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But critics have said the changes Trump is pursuing are likely to inflate the federal deficit for more than a decade.
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March 15, 2017.
After that date, the Treasury Department is expected to enact “emergency” measures to buy more time to allow the government to continue paying its bills. These emergency steps often include actions such as suspending pension payments, but the Treasury Department runs out of flexibility after several months.