WASHINGTON, D.C. (WNAX) – U.S. Treasury Secretary Steven Mnuchin has asked Congress to raise the debt ceiling as soon as possible.
The debt is now at $22 trillion, and the Treasury says the country will run out of credit by September.
South Dakota Senator Mike Rounds says the tax cut passed last year has had one desired effect.
Rounds says Congress is not able to control spending on the majority of the federal budget.
Rounds says Congress has little choice in extending the debt ceiling.
The US could default on its debts if the ceiling is not raised.