The US debt ceiling, simplified

The US Treasury Building is where the Secretary of the Treasury manages the nation’s finances and debt.

What is the debt ceiling? The debt ceiling is the limit Congress sets on how much debt the government can have. The government borrows money to pay its bills, such as Medicare benefits and military salaries. To borrow more money, Congress has to raise the debt ceiling. This vote does not pledge any additional spending.… Continue reading The US debt ceiling, simplified