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What is the debt ceiling, and what happens if the US hits it?

Por: The Boston Globe Politics May 09, 2023

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House Republicans have locked the Biden administration in a standoff over a deadline to raise the national debt ceiling by this summer, or risk fiscal calamity. The battle has escalated this week. Here is a look at what the debt ceiling is and why you are hearing about it so much right now.What is the national debt ceiling?It's a restriction Congress puts on how much money the federal government can borrow to pay its bills. Congress... + full article



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