On March 4, Treasury secretary Steven Mnuchin told Congress his organization would stop making payments into two government retirement funds to keep from exceeding the national debt limit. A March 2 deadline saw the resumption of a $22 trillion limit on national debt after a year-long suspension under a 2018 budget deal.
According to the Congressional Budget Office, issuing new securities for the Civil Service Retirement and Disability Fund and the Postal Service Retiree Health Benefits Fund increased the national debt by around $3 billion each month.
Mnuchin urged Congress to increase the debt limit and said the Treasury will resume funding both accounts once the debt limit rises.
Treasury to Stop Payments into Postal Service Retirement Fund, For Now
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