Americans are getting a crash course on the country’s borrowing limit, as a high-stakes standoff on Capitol Hill dominates national attention. Last month, the Treasury Department announced it’s implementing “extraordinary measures” to keep the nation from defaulting on its debt, after it hit the roughly $31.4 trillion limit set by Congress more than a year ago. The Treasury said the measures are expected to give Congress until at least June to reach a deal to raise the limit, which caps how much debt the government can take on fulfill its spending, and prevent what would be a first-ever default – an outcome Republicans and Democrats are hoping to avoid. Below are just five rea
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