Tag Archives: debt ceiling budget reconciliation

The Debt Ceiling Fight Explained For Dummies!

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On August 1st, America stopped borrowing money. Since then, the treasury has been scrambling to keep paying for things by shifting around funds and trying to get tax dollars to go as far as possible. The current predictions are that America will start bouncing checks in mid-October or mid-November. Here’s what’s happening!

What is the Debt Ceiling? The Coming 2021 Debt Ceiling Crisis, Explained

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Will congress be able to keep charging expenses to America’s “credit card”? We’re about to find out. On July 31st, the treasury hit it’s $28.5 trillion debt ceiling. Now the question is, how are politicians going to raise it? A partisan budget reconciliation measure? A bi-partisan negotiation? Here is exactly what is happening!