Debt limit

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 […]

Sudeep Reddy and Nela Richardson join Kai Ryssdal to recap the week that was.

The House voted to increase to the government’s borrowing limit

Basically, Congress appropriates money for projects and programs, then lawmakers have to give the executive branch permission to pay those bills.

If Congress fails to raise the debt limit, the next question is how to pay the 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.

The Treasury Department says the U.S. will run out of money on some unknown date in October.

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...