U.S. Government hits $31.4 trillion debt limit

The U.S government has hit it’s borrowing limit

It’s like maxing out your credit card – except we’re talking about $31.4 trillion.

Right now, there’s a standoff between the Republican and Democrats that could lead to a fiscal crisis in a few months.

Treasury Secretary Janet Yellen says extraordinary cash management is now in place that could stave off default until June.

Republicans want to see spending cuts.

But the White House Press Secretary Karin Jean-Pierre says the issue shouldn’t be one, as both Parties need to do what is right for America.

“The debt limit has been something that has happened three times,” she said in a press conference. “If you look at just the last administration in a bipartisan way, it is something that should be that should be done without conditions.”