Tag #Fiscal Responsibility Act

What immediate actions are required to prevent a US government default given Treasury Secretary Yellen's warning about the debt ceiling?

Treasury Secretary Janet Yellen warned Congress that the government may need to begin employing "extraordinary measures" to avoid breaching the debt ceiling as early as January 14th. These measures are accounting maneuvers to prevent default, but their depletion necessitates Congressional action to raise the debt limit. Failure to act risks a government default.