Beyond the Headlines: Understanding the Debt Ceiling
Published on Apr 30, 2011
For more facts beyond the headlines: http://www.bankruptingamerica.org ————————————————— For years, the government has spent far more than it can afford. This history of overspending has saddled the country with a massive debt burden. But this debt is subject to a limit mandated by Congress. When the debt nears the limit, Congress usually raises it to allow the government to continue borrowing money. As we once again near the debt ceiling, what’s at stake? We go beyond the headlines for all the facts you need to know.