With Republicans now controlling the House, and Democrats controlling the Senate and Presidency this gridlocked political stage could be set for a similar debt ceiling debate as in 2011. That rocked financial markets and lead to a downgrade of the U.S. government’s debt rating. Reaching the debt ceiling is expected later in 2023, though the precise timing is debated.
When Will The Debt Ceiling Be Reached?
The timing of hitting the debt ceiling is not known precisely, but current estimates put it in some time second half of 2023, with the usage of extraordinary measures potentially pushing a hard deadline back closer to the end of the year.
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