US Treasury buys time for Biden and GOP on debt limit deal

The Treasury Department is seen near sunset in Washington, Wednesday, Jan. 18, 2023. (AP Photo/Jon Elswick)The Treasury Department is seen near sunset in Washington, Wednesday, Jan. 18, 2023. More on the debt limit – EXPLAINER: How ominous is the debt limit problem? What happens if these measures are exhausted without a debt limit deal is unknown. This story has been corrected to show the debt limit is $31.381 trillion, not $38.381 trillion.