What’s The Deal With The Fight Over The Debt Ceiling? ...Middle East

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Transcript Nathaniel Rakich: In real estate, it’s usually a good thing for houses to have high ceilings. But one House doesn’t seem to want one. Republicans in the U.S. House of Representatives are refusing to raise the nation’s debt ceiling unless President Biden agrees to their demands. The standoff has consumed political news coverage and ground work in Congress to a halt — but why is it so important? What’s the deal with the debt ceiling? The debt ceiling is the statutory limit on how much money the federal government can borrow in order to pay its existing financial obligations. There’s a common misconception that raising the debt limit is the same as authorizing new spending, but that’

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Last updated : 25 May 2023 clock 10:48 PM

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What’s The Deal With The Fight Over The Debt Ceiling? ...Middle East

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