what is debt ceiling.

[bulreddy]

konchem simple terms lo cheppandi. and what happens if it reaches? 

aa eiling pencahdam easy antunanru, then why this is in news from last 2-3 weeks. 

 

[bulreddy]

and how it affect us. (like employment, home buyinf, cars..etc..)

 

[kiran1012]

😇

[kiran1012]

4 minutes ago, bulreddy said:

konchem simple terms lo cheppandi. and what happens if it reaches? 

aa eiling pencahdam easy antunanru, then why this is in news from last 2-3 weeks. 

 

 

4 minutes ago, bulreddy said:

and how it affect us. (like employment, home buyinf, cars..etc..)

 

Good question 

[kiran1012]

The debt ceiling is a limit on the amount of money that the United States government can borrow. The government borrows money to pay for things like Social Security, Medicare, and the military. When the government reaches the debt ceiling, it can't borrow any more money. This can lead to a government shutdown, which means that the government can't pay its bills.

Some people think that it's a good idea to have a debt ceiling because it forces the government to be responsible with its spending.

In the United States, the debt ceiling is set by Congress. Congress has raised the debt ceiling many times in the past. The most recent time that Congress raised the debt ceiling was in 2021.

The debt ceiling was created in 1917.

The debt ceiling has been raised 78 times since 1960.

The debt ceiling is currently set at $31.4 trillion.

The government has never defaulted on its debt.

A government shutdown can have a negative impact on the economy.

[bulreddy]

20 minutes ago, kiran1012 said:

The debt ceiling is a limit on the amount of money that the United States government can borrow. The government borrows money to pay for things like Social Security, Medicare, and the military. When the government reaches the debt ceiling, it can't borrow any more money. This can lead to a government shutdown, which means that the government can't pay its bills.

Some people think that it's a good idea to have a debt ceiling because it forces the government to be responsible with its spending. Others think that the debt ceiling is a bad idea because it can lead to government shutdowns.

In the United States, the debt ceiling is set by Congress. Congress has raised the debt ceiling many times in the past. The most recent time that Congress raised the debt ceiling was in 2021.

Here are some additional details that a middle school kid might be interested in:

The debt ceiling was created in 1917.

The debt ceiling has been raised 78 times since 1960.

The debt ceiling is currently set at $31.4 trillion.

The government has never defaulted on its debt.

A government shutdown can have a negative impact on the economy.

konchem clear ayyindi. so it wont affect people like us? 

[Katti_Ramdas]

38 minutes ago, kiran1012 said:

The debt ceiling is a limit on the amount of money that the United States government can borrow. The government borrows money to pay for things like Social Security, Medicare, and the military. When the government reaches the debt ceiling, it can't borrow any more money. This can lead to a government shutdown, which means that the government can't pay its bills.

Some people think that it's a good idea to have a debt ceiling because it forces the government to be responsible with its spending.

In the United States, the debt ceiling is set by Congress. Congress has raised the debt ceiling many times in the past. The most recent time that Congress raised the debt ceiling was in 2021.

The debt ceiling was created in 1917.

The debt ceiling has been raised 78 times since 1960.

The debt ceiling is currently set at $31.4 trillion.

The government has never defaulted on its debt.

A government shutdown can have a negative impact on the economy.

andar kadutunna taxes evadi G loki potunnay mari

[Thokkalee]

51 minutes ago, bulreddy said:

konchem clear ayyindi. so it wont affect people like us? 

If they don’t raise the debt ceiling, govt won’t be able to pay the interest and default on the loans.. that is bad for the country’s credit rating and the bond values will tank.. 

it is like you not paying your credit card payment and that impacts your credit score and you won’t get new debt 

[dasari4kntr]

1 hour ago, bulreddy said:

konchem simple terms lo cheppandi. and what happens if it reaches? 

aa eiling pencahdam easy antunanru, then why this is in news from last 2-3 weeks. 

 

imagine if your  daily expenses are like 30% on your income and 70% on credit card and you reached you card limit and no one giving you loan or another card…

in that situation you have to default on card payments or paying minimum in cards or reduce your expenses…etc and your reputation get ruined…

in the political scenario reducing expenses means cut down some social benefits , military expenses, veterans benefits…etc

paying minimum or deafult means ..govt giving up on bond payments…(people and firms hold the bonds…through treasury bonds)

if bonds get defaulted…some banks and firms investments in danger… 

[kiran1012]

47 minutes ago, Katti_Ramdas said:

andar kadutunna taxes evadi G loki potunnay mari

Ukraine war ke approximately 120 billion tagaletaru. 

[Gulebakavali]

1 hour ago, Katti_Ramdas said:

andar kadutunna taxes evadi G loki potunnay mari

[sarvayogi]

debt ceiling is way way above our knowledge and status..its in trillions of dollars..so dont worry

1 hour ago, bulreddy said:

konchem clear ayyindi. so it wont affect people like us? 

 

[Sanjiv]

1 hour ago, kiran1012 said:

Ukraine war ke approximately 120 billion tagaletaru. 

Iraq, Afghanistan war expenses inka adagoddu