Could the US default on its debt? | DW Business

In the United States, lawmakers are scrambling to agree on a plan to raise the amount of money the government can borrow. If no deal can be reached by June 1st, the country would default on its debt - a move that could have a catastrophic effect on the US and global economy. But what exactly is the "debt ceiling," and why does it matter so much?

#usa #debt #globaleconomy

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[notarmchairhistorian]

Funny question when everybody knows they'll just raise and top up their debt again.

[verafleck]

"The same procedure as every year?" " The same procedure as every year."

[emikomina]

they both looked so thrilled about the possibility of america defaulting on its debt, lmao

[littlerageu]

the professor looked so thrilled to talk about this haha

[madcow]

FYI The debt ceiling is a decision to pay for the things they've already purchased. If you want to discuss spending cuts, do it during the annual budget passed by congress. You don't just not pay the bill.
The annual budget seems to be democrats showing with a list of spending demands, and republicans showing up with a similar list. They agree that a budget can pass if both sides can spend whatever they want. Fiscal responsibility only becomes a talking point after the fact.

[bcatbb]

The lady is always smiling in her speeches, such a chill lady

[thecoldassassin]

The reporter and the prof are over happy... No clue why

[ilia]

Just keep on raising the debt and printing more money for the next generation to deal with.

[GuyIncognito]

I just love when people tell me about disasters while looking overjoyed to be doing so. This guy is great.

[williamlai]

DW Business: Could the US default on its debt?
USA: What debt? (printing more money behind)

[SheepofTheShepherd-nulz]

National Debit will go up over 32 Trillion, and still never be pay in full

[artur]

Why are they smiling like madmen? Creepy af

[thatdapperman]

Our national debt really doesn't matter until the interest that we pay on that debt becomes larger than our gdp.

That's when it all unwinds

[delos]

Every time there's a Democratic president, republicans do this song and dance, threatening to burn the house down to pretend they care about the national debt. Meanwhile republican presidents run bigger deficits pretty consistently.

[Olddeadleadfoot]

Here in the U.S., the GOP is known as the G.O.P.O.S..

[chilam]

no problem we can print more, and the world will just suck it up.

[IndiaVirus-OriginofCvid]

What happens when you take on the global debt...

This is not just the US debt.

[ic_jason]

It's always weird to me when I hear something along the lines of "reducing taxes is a spending increase".

[ピッピ-ep]

America would not even pay for their own millitary if having the default and we all wonder why are they still supporting Ukraine?

[kimblejest]

There is already a bill to raise the debt ceiling. Just pass it and sign it.