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Debt ceiling 101: eight questions about the latest round
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Debt ceiling 101: eight questions about the latest round
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Congress has until the end of February to raise the federal government’s borrowing limit, known as the debt ceiling, or the country risks going into default. We’ve seen this movie many times in recent years: Republicans demand concessions, President Obama usually refuses, and the debt ceiling is raised anyway.
The last increase came on Oct. 17, 2013, when the debt ceiling was suspended until Feb. 7, 2014. On that day, Treasury Secretary Jacob Lew said he could use “extraordinary measures” to push that deadline to Feb. 27.
How is this time different from the previous rounds of debt ceiling politics? Here’s a guide, plus the context.
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Congress has until the end of February to raise the federal government’s borrowing limit, known as the debt ceiling, or the country risks going into default. How is this time different from the previous rounds of debt ceiling politics? Here’s a guide, plus the context.
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By Linda Feldmann, Staff writer
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Count Up
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Washington
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