Treasury Will Invoke ‘Extraordinary Measures’ as Debt Ceiling Looms Again

Cash-management steps will allow Treasury to pay bills until Congress raises borrowing limit

Analysts expect those cash-management steps will allow the Treasury to pay bills that come due without issuing new debt until this fall, depending on the strength of Treasury receipts this spring and summer. After that, Congress would need to raise the borrowing limit or risk the U.S. missing certain payments.

.. One such staunch critic of approving debt-limit increases with no strings attached, former Rep. Mick Mulvaney, is now President Donald Trump’s budget director.

.. Rep. David Brat (R., Va.), a deficit hawk, said firm commitments from the Trump administration to boost growth could help get conservatives on board with a vote to raise the debt limit.
.. Policy makers on both sides of the aisle have increasingly viewed the debt limit as poor policy.“I would like to see everyone agree that the current debt-limit law is simply a failure. It doesn’t limit debt,” said David Malpass, who served as an economic adviser to Mr. Trump during the campaign