Letters from an American

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January 19, 2023

heathercoxrichardson.substack.com

January 19, 2023

Heather Cox Richardson
Jan 20
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Share this post

January 19, 2023

heathercoxrichardson.substack.com

As Treasury Secretary Janet Yellen warned would happen today, the U.S. hit the debt ceiling, although it can avoid default for a few months with what Yellen calls “extraordinary measures.” These consist primarily of suspending government pension investments, which will have to be made whole again when the ceiling has been increased or suspended.

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