CNN
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The nation’s debt ceiling was reinstated Thursday, giving congressional Republicans yet another divisive challenge to contend with in 2025.
President-elect Donald Trump is demanding that GOP lawmakers address the limit before he takes office on January 20, but lawmakers have some time since the US is likely months away from a potential first-ever default on its obligations.
The new ceiling is the amount of debt outstanding at the end of the previous day. That figure stood at just under $36.2 trillion earlier in the week, up from $31.4 trillion in June 2023, when the cap was suspended as part of the bipartisan Fiscal Responsibility Act.
But in a technical quirk, the nation won’t actually be at the limit on Thursday, allowing the Treasury Department to continue borrowing for a…
