As America's government hits the debt ceiling, US politics has become a multi-trillion dollar game of chicken. If neither side backs down, America could default on its debts for the first time in history, sparking global economic turmoil. What is the debt ceiling, and how can this crisis ...
Set by Congress, thedebt ceiling, or limit, is the maximum amount of money the U.S. Treasury is authorized to borrow to pay debts incurred by the federal government. Lifting the debt ceiling does not authorize new spending, but instead lets the government spend money on obligations that Cong...
Republicans and said that it was irresponsible to hold the debt limit, the debt ceiling hostage. What changed? The problem here is that they're asking only to get rid of the debt ceiling for a short period of time to allow them to do a massive new tax cut for billionaires and millionai...
What is the Debt Ceiling and Why Does the Government Keep Raising It?
A debate over the debt ceiling is at the center of a dispute over funding that is pushing the possibility of a federal government shutdown to the brink in Washington.
The debt ceiling is a cap on the amount of money the U.S. government can borrow to pay its debts. Every year, Congress passes a budget that includes government spending on infrastructure, salaries for federal workers and programs such as Social Security. Congress also taxes people...
"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, ...
The debt ceiling is the maximum amount of money that the United States can borrow cumulatively by issuing bonds. The debt ceiling was created under the Second Liberty Bond Act of 1917 and is also known as the "debt limit" or "statutory debt limit." If U.S. government national debt levels...
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.
The debt ceiling is the total amount of money the U.S. Treasury is allowed to borrow. If the money owed by the United States is higher than the debt ceiling, the federal government is in default on its debts. What Is the National Debt?