Congress had to pass a budget bill to avoid a shutdown this week. It also had to lift the debt limit or risk the government running out of money in March. So lawmakers packaged the bills. But they aren’t just…
Linking the two could make raising the debt limit more palatable to Congress, but it puts off a painful conversation about spending cuts.
Mile Marker Zero
Basically, Congress appropriates money for projects and programs, then lawmakers have to give the executive branch permission to pay those bills.
The U.S. cannot pinpoint just when it will hit its debt limit, and while a giant unexpected expense could cause a problem, it's revenues that make the deadline tough to figure out.
News In Brief
As the debt ceiling debate drags on in Congress, the political whirlwind that's dominated the news can sometimes cloud the reality of the real...