Defaulty Towers: How dangerous is the US Debt Ceiling?
Many Happy Returns
What Is the Debt Ceiling?
In 1939, the US introduced a general limit on any federal debt. The current debt ceiling is $31.381 trillion and it's staggering that they're almost at it. What really matters is the size of the debt relative to GDP. And over time, if you're running persistent deficits, then you build up this big national debt.
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