A higher debt limit does not mean funding more government programs. It is paying for the bills already due.
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 doubling up on legislation, they’re doubling down on the national debt. Click the audio […]
Linking the two could make raising the debt limit more palatable to Congress, but it puts off a painful conversation about spending cuts.
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.
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...