Posts Tagged ‘1996 debt crisis’

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    Debt Ceiling 101

    Jul 15, 11 • 121 Views • Economic Debates, Economic History, Financial Markets, Government, Households, International Trade and Finance, Macroeconomic Measurement, RegulationNo Comments

    During the month of August, if the U.S. hits its debt ceiling of $14.3 trillion and the Congress says, “No, you cannot borrow anymore,” then what will happen? During August, the U.S. will have $172B (billion) in federal revenues and $307B in...