As the June 1st debt celling deadline quickly approaches, many of us are left wondering and waiting on the outcome of these negotiations. As a Certified Financial Planner, I am keeping a close eye on the latest developments and monitoring the situation. As with any type of market uncertainty, one of the best ways I can help is to provide information on the situation. With that in mind, HERE is a recent article from NPR 1 that highlights 9 of the most commonly asked questions about the debt ceiling.
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So, What Does the Article Cover?
The list of the nine questions is detailed below or you can also access the article here -> CLICK HERE TO READ
- What is the debt ceiling?
- How do experts know when the government has really run out of funds?
- Why is there a fight over it?
- What could happen if it's not raised?
- Has the U.S. ever failed to make these debt payments?
- Would capping or cutting spending now resolve the problem?
- What else could be affected by a default?
- Is default the same thing as a shutdown?
- Are there other ways this problem could be fixed, aside from just increasing the debt limit?
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1. Snell, Kelsey . “What You Need to Know about the Debt Ceiling as the Deadline Looms.” NPR, 15 May 2023, www.npr.org/2023/05/15/1175733139/debt-ceiling. Accessed 15 May 2023.