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Why has GACM Technologies Limited (GATECHDVR) been underperforming recently ✌️【Investment Strategy】✌️ Take advantage of our free stock market analysis and real-time data to help you choose the best investment options. Our expert predictions and tailored strategies ensure you can achieve stable returns and mitigate risks effectively. Reaching the cap ramps up pressure on congressional Republicans, but lawmakers have a little time before they must act to avoid a first-ever default, which would likely cause global economic upheaval. The extraordinary measures, which are mainly behind-the-scenes accounting maneuvers, will continue through March 14, Yellen wrote.
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House Speaker Mike Johnson is already running up againstresistancefrom some of his fiscally conservative members, who want to decrease the debt, not increase it. His super-slim majority will make it even more difficult for him to find a compromise — and he may need Democratic support in order to pass an increase to the limit.
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GOP leaders in the House in December floated an idea to raise the debt limit by $1.5 trillion as part of a first reconciliation package in 2025. The legislation would also include $2.5 trillion in cuts to net mandatory spending, aimed at satisfying conservative members. But that would buy the caucus only limited time before they face the cap again, experts said.
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In a technical quirk, the US didn’t actually hit the limit on January 2 because the debt level was projected to dip that day due to the scheduled redemption of certain securities, Yellen told Congress in late December. At the time, she forecast the cap would be reached between January 14 and January 23.
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