The debt ceiling is the amount of money the US is able to borrow to pay its bills. Since the cost of running the government is far greater than federal tax revenues, the US must raise additional money by selling Treasury bonds but it cannot do this after hitting the debt ceiling. Without question its global reserve currency status would be shaken to its core and would have profound implications for the international financial system. If the US is unable to pay its bills, it will default on its debt. That’s only happened once in history. What is your take on world debt crisis?
Previous Article
Russia expands entry ban list of EU citizensNext Article
Crypto founder charged in a court of law