YOU DECIDE: Should Congress Raise the Debt Ceiling?
In 1917, Congress created the “debt ceiling,” which is the maximum amount of money that the U.S. Treasury can borrow to pay for government programs and activities. Since 1959, lawmakers of both political parties have raised the debt ceiling 89 times. Most recently, in 2021, President Biden signed legislation increasing the debt ceiling to $31.4 […]
UPDATED!! Debt Ceiling Squabble
Last night, the president and Congress overcame their disagreements to end the government shutdown and avoid the possible debt ceiling (also called the debt limit) crisis. Today was the deadline announced by the United States Treasury that the government would have lost its ability to borrow money, relying only on incoming taxes for revenue. The […]