U.S. Debt Ceiling Crisis Looms: What Will Happen Next?
@Tiger_Chart：
US federal debt currently stands at a staggering $31.4 trillion, the highest it’s ever been. That matters because it’s approaching the maximum limit that the government is legally allowed to borrow.The debt ceiling is the government's borrowing limit that can only be raised through congressional authorization. That money, according to the U.S. Treasury Department, is needed for the government to meet its existing legal obligations, including social security and Medicare benefits, military salaries, interest on the national debt, tax refunds, and other payments.A critical week for negotiations on raising the debt ceiling got off to a rocky start as White House talks ended with no agreement.The US may default as soon as 1 June, causing a global economic catastrophe, if the limit is not
