U.S. teetering on edge of fiscal cliff

The U.S. may run out of cash by June 1 if Congress does not raise or suspend the debt limit, Treasury Secretary Janet Yellen warns


Debt limit suspended for most of 2014-16 and 2018-20

Jan 2021: Joe Biden takes office, U.S. national debt at $27.7 trillion

Jan 19, 2023: Debt limit hits $31.4 trillion – Treasury begins “extraordinary measures” to avoid default
  

U.S. NATIONAL DEBT, $ trillions* 
Debt – Democrats
Debt – Republicans 
Debt ceiling

32
30
28
26
24
22
20
18
16
14
12
10
8 
6 
4 
2
1980 1985 1990 1995 2000 2005 2010 2015 2020
        
Ronald  George    Bill.     George  Barack  Donald  Joe Biden 2021-
Reagan  H.W. Bush Clinton   W. Bush Obama   Trump
1981-89 1989-93   1993-2001 2001-09 2009-17 2017-21

*1 trillion = 1,000,000,000,000 


Sources: U.S. Treasury, Reuters, BBC 
Picture: Getty Images 
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