As Congress battles over how to keep the nation from defaulting on its debt ahead of a looming deadline, Americans are getting a primer on the country’s borrowing limit. This week, the Treasury Department warned it could run out of “extraordinary measures” to stave off a federal default as soon as June 1. If the U.S. runs out of cash to pay its bills, experts fear the global economy and financial system could face a catastrophe. Here’s ten questions and answers about the debt limit, what’s at stake and what Washington is doing about it. What is the debt ceiling? The debt limit — also referred to as the debt ceiling or the country’s borrowing limit — is a cap on how much money t
Hence then, the article about 10 questions answered on the debt limit was published today ( ) and is available onThe Hill ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details Finally We wish PressBee provided you with enough information of ( 10 questions answered on the debt limit )