It's the big news today …
The U.S. Treasury Department needs more cash to pay the bills. In the past, the U.S. has simply borrowed more money.
But we're quickly approaching the debt ceiling; $31.4 trillion.
Here are the details.
There's currently a debt issuance suspension set to last through June 5, 2023. During that time, Biden and Congress will work to lower costs at home or confirm a new debt ceiling.
For the time being, it's been reported the Treasury Department will skim funds from retirement services to make ends meet.
Read more here.
It's not a great look to fret over the national debt and siphon funds from retirement. And it's likely fueling the market's additional weakness today.
The good news is, prices are about to bump into support from late December and early January.
Here's a chart of the S & P 500 ETF Trust (NYSE: SPY) …
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