In the United States a two-year agreement on the suspension of the national debt limit has come to an end. This means that its limit value has started to operate again. By the end of June, cumulative debt had reached nearly $28.5 trillion – $22 trillion plus accumulated debt since August 2019.

If Congress does not decide to suspend or increase the limit, the Treasury will have to go to extraordinary measures. When the limit is reached, the United States in October or November will be on the verge of default on regular spending obligations or will default on government securities.