If the US fails to increase its debt ceiling by June 1, it could be forced into an embarrassing – and hugely costly – default on its obligations.
Articles on US government debt
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Republicans and Democrats have negotiated a draft deal that may avert a financial crisis, but why does the US have a debt ceiling in the first place?
Congress is spending trillions of dollars trying to rescue the US economy and support workers and businesses. Can America afford it? ‘No sweat,’ according to modern monetary theory.
As Trump prepares to deliver his delayed State of the Union address, here’s what four economists had to say about the state of the union.
As House Democrats prepare their agenda for the next two years, dealing with America’s massive fiscal gap should be at the top of their list.
The US government reached the limits of its borrowing capacity in March and is fast approaching the point at which it will no longer be able to pay all its bills. What’s the big deal?
Top contributors
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Part-Time Professor of Economics, The New School
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Professor of Economics, Boston University
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Professor of Health Economics, University of Hong Kong
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Daniel Patrick Moynihan Senior Lecturer in Public Policy and Public Finance, Harvard Kennedy School
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Senior Economist and Associate Director of Social Science and Policy, University of Michigan Energy Institute, University of Michigan
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Deputy Chair of Business Administration, Touro University
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Associate Professor of Economics, Southern Methodist University
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Distinguished Fellow in Law and Government, Dickinson Law, Penn State