US nears $36 trillion debt ceiling in August, Treasury chief urges action
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Key Entities
- • U.S. Department of the Treasury: A government department managing federal finances since 1789, responsible for issuing debt and advising on economic policy.
- • Congress: The legislative branch of the U.S. government, divided into the Senate and House of Representatives, which must authorize any debt ceiling adjustment.
- • Treasury Secretary Scott Bessent: The official overseeing Treasury operations and warning lawmakers of potential default risks if they delay.
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