WirecompaniesDextape brief
Congress’s first task post-midterms is to figure out how to keep funding America—and that’s before it addresses the $40 trillion national debt
"Washington should heed the demand of voters to focus on issues impacting their pocketbook while also living up to the responsibility entrusted in elected leaders to be stewards of our nation’s fiscal future.
Dextape brief
Washington faces several budget deadlines as Democrats take control of Congress while Donald Trump stays president. The first falls on December 11, when a short-term 72-hour funding measure approved by the president in September runs out. Analysts at Goldman Sachs are weighing a possible shutdown in December, though both parties' spending goals may lower that risk. Goldman also expects lawmakers must raise the borrowing limit by October 2027 and doubts Republicans can do so before year-end given thin House margins. The national debt sits at $40.5 trillion against a $41.1 trillion ceiling, and analysts expect that cap to be reached about a year from now. Budget watchdogs want the deficit, now roughly 6% to 7% of GDP, cut to 3%.
Why it matters: Funding deadlines and borrowing limits shape federal spending and Treasury borrowing costs, which can influence investor confidence in the government's obligations that crypto markets also watch.
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