Pelosi says no debt-ceiling hike without budget deal

Nancy Pelosi

House Speaker Nancy Pelosi will continue Tuesday a back and forth with Treasury Secretary Steven Mnuchin on a budget deal. | Win McNamee/Getty Images

House Speaker Nancy Pelosi (D-Calif.) said Monday that the House would not raise the debt ceiling unless the move is part of a budget deal.

Treasury Secretary Steven Mnuchin told reporters that Congress will have to raise the debt ceiling before its August recess if there is no budget deal before then.

Otherwise, he said, the federal government won’t have enough money to pay all of its bills.

Lawmakers have until the end of September to hammer out a budget deal, as that’s when funding for several agencies is scheduled to run out. The Treasury Department can only issue debt up to the limit set by Congress.

Since President Trump’s inauguration, total government debt has increased by about $3 trillion, to more than $22 trillion.

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