2min chapter

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2023 Mid-Year Market Outlook

Financial Decoder

CHAPTER

The Debt Ceiling Deal Is Just Off the Table Until Mid 2025

The debt ceiling deal requires Congress to pass the 12 appropriations bills that fund every government agency and every federal program by the end of the year. If they're not all passed by then, there is an automatic across the board 1% cut in federal spending. Mark O'Mara: Based on recent history, it's not something Congress has a lot of a success at.

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