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Scooped by Graham Watson

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From www.bbc.co.uk - January 19, 2023 5:33 AM

Graham Watson's insight:

Public finance issues in the US, as the government is going to run up against its borrowing limit, the so-called debt ceiling, currently set at $31.4bn.

This article looks at what this means - for the most part it's resulted in a renegotiation of the cap, but it leads to lots of bleating about spending cuts and on occasion it has led to the closure of federal government departments. However, as yet the US hasn't ever defaulted - and the effects of this, not just for the US, would be significant.

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International Economics: IB Economics

What is the US debt ceiling and what happens if it isn’t raised? | US economy | The Guardian

What happens if the US hits the debt ceiling?