On Thursday, December 9th, the U.S. Senate approved a measure that will allow for democrats to increase the U.S. government debt limit and avoid a crisis related to the nation's growing debt. The legislation was signed into law by President Biden setting the stage for democrats in the House and Senate to move another specific measure in the coming days to raise the debt limit and prevent the United States from defaulting on its debt. It's expected that the debt ceiling increase will be approved early next week by democrats on a party line vote.
More below:
https://www.reuters.com/article/us-usa-congress-debt-idUSKBN2IO0WE