The debt ceiling bill marks the end of big annual hikes for NIH but overall avoids worst-case scenarios for health care financing, health policy experts tell Axios. Because matter: If this bill passes both houses of Congress, it will outline how the next two fiscal years of federal spending on health care agencies will proceed and reduce the threat of a government shutdown as well as prevent a default. Details: The bill would raise the debt limit through January 1, 2025 and keep non-defense discretionary spending levels broadly stable for…
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Global debt nears record high as rate hikes trigger ‘adjustment crisis’ says top trade body
The IIF said the combination of such high debt levels and rising interest rates has caused the cost of servicing that debt to rise, triggering concerns about leverage in the financial system. “At nearly $305 trillion, global debt is now $45 trillion above its pre-pandemic level and is expected to continue to increase rapidly,” the IIF said. HIROSHIMA, JAPAN – MAY 17 : People walk under a banner promoting the Group of 7 (G7) summit at a shopping street on May 17, 2023 in Hiroshima, Japan. The G7 summit will…
Read MoreSocial Security, Medicare, Federal Salaries: What payments can be delayed if the debt ceiling stalls
The US reached its debt ceiling, or debt limit, in January. The nation could run out of money to pay all of its bills as soon as June 1, the so-called “X-date.” The government would not be able to pay everyone on time. It would likely prioritize payments to investors holding US Treasuries, to avoid a “technical default.” Payments like Social Security, Medicare, tax refunds, military paychecks, and others would likely be delayed. Democrats and Republicans have not yet reached an agreement to raise or suspend the debt ceiling and…
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