2023 United States debt-ceiling crisis: Will the US default in its debts? How does it affect you? Ridhima Bhatnagar explains #UsDebtCeiling #UnitedStates | News18

22K views · 260 reactions | Senate Majority Leader Chuck Schumer has accepted a short-term deal to extend the debt ceiling until early December. CNN’s Manu Raju reports. | CNN | Facebook

The United States debt ceiling, also known as the statutory debt limit, is the total amount of money the United States government is allowed to borrow to meet its existing legal obligations, including Social Security and Medicare benefits, military salaries, interest on the national debt, tax refunds, and other payments. The debt ceiling is periodically raised by Congress in order to allow the government to borrow the money it needs to meet its obligations. As of 2020, the current debt ceiling i