The debt ceiling has made its way into the news recently, with reports saying that the USA has reached the federal limit. In today’s episode of Grow Money Business, Grant discusses what the debt ceiling is, the reason for having one in the USA, and what kind of consequences there will be if the government is unable to come to an agreement.
[04.18] The debt ceiling –Grant starts the conversation by explaining why only a few countries in the world have them.
[10.43] Making Changes – Grant shares why he thinks the debt ceiling should be removed.
[16.00] Running out of money – Grant shares some insight about what happens when the US government runs out of money.
[22.40] The last time – Grant explains what happened the last time when the federal debt passed the limit.
[27.15] Stability – Grant elaborates on why 50–60% of the world’s trade transactions happen in US dollars.
White House regroups after McCarthy’s success –
Explaining the U.S. Debt-Limit and Why It Became a Bargaining Tool –
The fight over the debt could sink the economy. This is how we got here –