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.
Raising the debt ceiling, Yellen testified, is "necessary to avert a catastrophic event for our economy." Here's a primer on the debt ceiling and examples of the possible consequences if the United States is unable to pay its debts. MORE: From Social Security to travel: Everyt...
"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, ...
For those new to the concept, it may seem remote and abstract. Yet, this fiscal term can have profound and very real consequences on the everyday lives of citizens. In this blog post, we will explain what the debt ceiling is, what happens if the US defaults, and whether there are any...
Today's debt-ceiling debate vs. past conflicts. Long-term consequences of inflated U.S. debt. How Big Is the National Debt, Really? The massive amount of U.S. debt is hard to visualize in scope and dimension. Just how much is $31.4 trillion? Here's one way to think about it: Eart...
Fiscal sustainabilityBayesian estimationA new fiscal rule was proposed in Korea, which is unique since it imposes a ceiling on a combination of the debt-GDP and deficit-GDP ratios. This paper attemptsHur, JoonyoungLee, Kang KooSocial Science Electronic Publishing...
While these extraordinary measures will prevent the near-term disruption of the federal government's activities, the reinstatement of the debt ceiling may make this a good time to consider the potential consequences of the government's debt, which is big and likely to get bigger. Sign up for ...
Congress is barreling toward a summer battle over spending levels as Democrats rush to craft a pair of spending bills while simultaneously addressing the debt ceiling to keep the U.S. from defaulting on its financial obligations.
The debt ceiling is the maximum amount of money the U.S. government is legally allowed to borrow to meet its existing obligations, such asSocial Security benefits, military salaries, and interest on the national debt. When this limit is reached, the Treasury cannot issue new debt without congr...
The national debt has far-reaching consequences for everything from Social Security to international relations, and the U.S. Department of the Treasury is the agency that manages this debt. Below, we’ll learn more about the Treasury’s responsibilities, particularly the reasons for U.S. borrowi...