US to return to fixed government debt ceiling in January

TheUnited States of America will return to a fixed ceiling on the national debt from January 2. This was announced on December 27 by the head of the U.S. Treasury Department Janet Yellen.

"From January 2, 2025, the new debt ceiling will be set at the amount of outstanding debt subject to the statutory limit at the end of the previous day," Yellen said in a statement.

She also warned that after America reaches the debt ceiling between January 14 and 23, the country's Ministry of Finance will be forced to take emergency measures to avoid a possible default.

Earlier, on November 15, it became known that the U.S. national debt for the first time reached a record $36 trillion. The debt figure rose by $1 trillion in three and a half months. It reached $35 trillion on July 29 of this year.

On November 5, newly elected U.S. President Donald Trump said that he would order to pay off the national debt with cryptocurrency. The American politician noted that cryptocurrency has a "great future".

Specialists of the International Monetary Fund (IMF) called the growth of the US state debt a threat to the world economy. Thus, by 2032, the country's national debt may exceed 140% of GDP. The IMF urged American politicians to carefully consider raising indirect taxes and a gradual increase in income tax.