Topic: U.S. National Debt Ceiling - page 2. (Read 201 times)
The U.S. military-industrial complex gives the debt a bit of leeway, but if they default then their creditors simply won't be inclined for future trade and the U.S. economy recedes. Not all debt is bad though. If the population is sustainable and is able to generate more workers and as long as the economy keeps up its pace, then some level of debt is sustainable. Most of the debt is internal anyways, owed by the American public. Eventually they'll catch on and recognize their government is generating more debt than they can pay off in many life times. It isn't possible to keep borrowing from people that haven't been born yet.
I did not find any topic talking about this matter, and since it is a problem that will come to the fore during the next month, I decided to create this topic.
The federal debt limit of the United States was set more than a century ago, and some may believe that setting a debt ceiling means that obtaining debt will be more difficult, but the process aims to facilitate government access to debt, provided that it does not exceed a certain ceiling, and then there must be legislation that allows them to exceed that roof.
Disagreements over the debt ceiling caused two shutdowns of the federal government and a loss of trillions of dollars, which is likely to happen and could cause a bigger crisis, especially with winter and the bad economic situation that we all know.
The debt limit has been set at $31,381,462,788,891.71, or just under $31.4 trillion, and the government is close to reaching this limit even before expectations that it would happen during the year 2024, but we will reach that limit during the year 2023.
What do you think and the possible effects if the United States defaults on its debts or its credit rating is downgraded?
For more and sources https://www.washingtonpost.com/business/whats-the-debt-ceiling-and-will-the-us-raise-it-again/2022/12/02/f6bd2d76-7282-11ed-867c-8ec695e4afcd_story.html
The federal debt limit of the United States was set more than a century ago, and some may believe that setting a debt ceiling means that obtaining debt will be more difficult, but the process aims to facilitate government access to debt, provided that it does not exceed a certain ceiling, and then there must be legislation that allows them to exceed that roof.
Disagreements over the debt ceiling caused two shutdowns of the federal government and a loss of trillions of dollars, which is likely to happen and could cause a bigger crisis, especially with winter and the bad economic situation that we all know.
The debt limit has been set at $31,381,462,788,891.71, or just under $31.4 trillion, and the government is close to reaching this limit even before expectations that it would happen during the year 2024, but we will reach that limit during the year 2023.
What do you think and the possible effects if the United States defaults on its debts or its credit rating is downgraded?
For more and sources https://www.washingtonpost.com/business/whats-the-debt-ceiling-and-will-the-us-raise-it-again/2022/12/02/f6bd2d76-7282-11ed-867c-8ec695e4afcd_story.html
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