What is the U.S. debt ceiling and what are the consequences of breaching it?

CGTN published this video item, entitled “What is the U.S. debt ceiling and what are the consequences of breaching it?” – below is their description.

For more:

https://www.cgtn.com/video

On July 31, the deadline for the U.S. Congress to raise its debt limit will arrive. If no action is taken, the U.S. government could default on its loans, which could send economic and financial shockwaves throughout the world. Where is the bargaining between Republicans and Democrats headed? Will we see a repeat of the 2011 debt ceiling crisis where the two sides played chicken?

CGTN YouTube Channel

Got a comment? Leave your thoughts in the comments section, below. Please note comments are moderated before publication.


About This Source - CGTN

This story is an English language news item from CGTN. CGTN is a Chinese state-funded broadcaster.

Recent from CGTN:

How will the situation in the red sea evolve? 1

How will the situation in the Red Sea evolve?

Red Sea tension upsets Yemeni fishermen’s livelihood

WEF founder: China plays responsible, responsive role in face of new global setting

In This Story: Democrats

“Democrats” usually refers to the The Democratic Party of the United States – one of the two major political parties in the country, along with its main, historic rival, the Republican Party.

It was founded on 8th January 1828 and has its contemporary headquarters in Washington, D.C., United States. The present leadership is Nancy Pelosi (Party leader) and Jaime Harrison (Party chair).

2 Recent Items: Democrats

Biden and the Democrats have open borders in their DNA: Eric Schmitt

Democrats will go out of their way to ‘cover up’ their failures: Will Cain

In This Story: Republicans

The Republican Party, sometimes also referred to as the GOP (Grand Old Party), is one of the two major contemporary political parties in the United States, along with its main, historic rival, the Democratic Party.

It was founded on 20th March 1854 and has its contemporary headquarters in Washington, D.C., United States. The present leadership is Ronna McDaniel (chairwoman).

2 Recent Items: Republicans

Biden says he’s ready for ‘massive changes’ at border

Biden administration cancels additional $5 billion in student debt

Leave a Comment

We don't require your email address, or your name, for anyone to leave a comment. If you do add an email address, you may be notified if there are replies to your comment - we won't use it for any other purpose. Please make respectful comments, which add value, and avoid personal attacks on others. Links are not allowed in comments - 99% of spam comments, attempt to post links. Please describe where people may find additional information - for example "visit the UN website" or "search Google for..." rather than posting a link. Comments failing to adhere to these guidelines will not be published.