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What is U.S. Debt Ceiling Impact Analysis about?

The US hit its debt ceiling of $31.381 trillion on January 19, which was the first time this had occurred. Hitting the debt ceiling requires the treasury to take unusual actions to continue meeting obligations and could lead to running out of cash by June. If Congress does not extend the debt limit, it could cause a default on loans and plunge the global economy into a financial crisis. Bondholders and service providers would be negatively affected if the debt ceiling is not addressed.

Author

godfreykaruku21

Language

EN