The United States Capitol building

On August 9th, 2023 at 2:00 pm EDT, Beth Goldstein and Jeff Turner will be leading a discussion on the debt limit. The debt limit (or debt ceiling) is the total amount of outstanding debt that the US Department of the Treasury can incur. Earlier this year, Treasury Secretary Janet Yellen notified Congress that the federal government’s outstanding debt was projected to have reached the statutory limit, requiring the Department to use “extraordinary measures” until lawmakers ultimately passed the Fiscal Responsibility Act of 2023 earlier this summer.

The bipartisan agreement suspended the debt limit until January 1, 2025. But well before then, provisions of the bill – as well as political reactions to the dealmaking process – will have profound legislative ramifications. This course will provide a primer on the congressional budget and appropriations process, a history of congressional action and options to address the debt ceiling in the future, a discussion of the debt ceiling package, and an analysis of how the Fiscal Responsibility Act of 2023 could affect policymaking, including the potential for significant harm to the economy if failure to reach consensus leads to the government being shut down later this year.

This course is co-sponsored by The Federal Bar Association and myLawCLE.

Key topics to be discussed:

  • Federal budget and appropriations cycle
  • Origins of the debt ceiling and options for addressing it
  • Negotiations over, and the effect of, the Fiscal Responsibility Act of 2023
  • Legislative ramifications for the economy in late 2023 and into 2024

To register for this webinar please visit the event page.