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The debt ceiling is a limit that Congress imposes on how much debt the federal government can carry at any given time. When the ceiling is reached, the U.S. Treasury Department cannot issue any ...
What happens if the government defaults on the debt? A default would occur if the U.S. failed to pay bondholders who have lent money to the government. The United States has never defaulted on its ...
As seems to happen every couple of years at this point, Capital Hill is abuzz with discussions of whether the U.S. will default on its debt. In fact, if the debt ceiling isn't raised this summer ...
Yellen, in a letter to House and Senate leaders, noted that the nation’s debt ceiling — the total amount of money the federal government is authorized to borrow to pay for obligations such as ...
The United States debt ceiling is a legislative limit that determines how much debt the Treasury Department may incur. [23] It was introduced in 1917, when Congress voted to give Treasury the right to issue bonds for financing America participating in World War I, [24] rather than issuing them for individual projects, as had been the case in the past.
Day nine of the government shutdown. Still no end in sight. For 800,000 or so furloughed federal employees, this is tough. For most Americans, it's a mere annoyance. But that could change in the ...