Since the debt ceiling system was instituted in 1917, Congress has never not raised the debt ceiling. Congress has voted 78 times to raise or suspend the debt limit since 1960.
"If Congress doesn't raise the debt ceiling, the president will have to make some decisions about what to do with the resources we do have, and there are a variety of different options, but there are no good options. Every option is a bad option." But what is the debt ceiling, ...
Ideally, Congress would simply abolish the debt ceiling aseasily as it created it in 1939. Since then, Congress “has acted 78 separate times to permanently raise, temporarily extend, or revise the definition of the debt limit,” according tothe Treasury Department. And the limit hasn’t exact...
If you've ever wondered what exactly the debt ceiling is, you're not alone. Here's what it is and some of the real-world impacts it can have.
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The Government Has Some Wiggle Room Although the debt ceiling is now back in effect, it could be days before the U.S. hits its congressionally mandated debt level and months after that before Congress would be forced to act to extend it. ...
Back to CNNMoney on not raising the debt ceiling: Treasury would not have authority to borrow any more money. And that can be a problem since the government borrows to make up the difference between what it spends and what it takes in. It uses that borrowed money to help fund operations...
The debt ceiling, which is currently around $22 trillion, is the legal limit on the total amount of debt that the federal government can accrue; according to theCommittee for a Responsible Federal Budget, it applies to both the $16.2 trillion held by the public, and the $5.9 trillion owed...
That’s a solid foundation; start right there and build on it. We should…no, wait. I meant to write about the debt ceiling bullshit. How’d I get distracted this quickly? Okay, rewind. Hit ‘start’. I find all of this fuss about the debt ceiling to be simultaneously offensive and...
That bank's so-called "war room" will probably start daily meetings on May 21, then ramp up to three times a day if the standoff over the debt limit drags on, he said. "We've got to be very careful about getting close" to a default, which could cause ...