The Impending Debt Ceiling Crisis and Its Impact on Americans.

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Source: GovExec.com
The Impending Debt Ceiling Crisis and Its Impact on Americans.
Photo: GovExec.com
TL;DR Summary

Failure to raise the debt ceiling could lead to the federal government not being able to pay its bills, including government employees' salaries. This could result in a financial crisis and a government shutdown. The debt ceiling is the maximum amount of money the government can borrow to fund its operations, and failure to raise it would mean the government would have to operate on a limited budget until a deal is reached.

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