Birdwatch Archive

Birdwatch Note

2023-05-24 11:37:10 UTC - MISINFORMED_OR_POTENTIALLY_MISLEADING

https://www.cfr.org/backgrounder/what-happens-when-us-hits-its-debt-ceiling The debt ceiling is about paying existing debt, previously approved spending by Congress. The budget is where negotiations on future spending occur. Not raising the debt ceiling could trigger a recession, increase interest rates and possible result in worse repercussions.

Written by F5B569AEBBE453715F322D25776677941354423EBFE7F8834EF5DB153B004984
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• summary
• https://www.cfr.org/backgrounder/what-happens-when-us-hits-its-debt-ceiling The debt ceiling is about paying existing debt, previously approved spending by Congress. The budget is where negotiations on future spending occur. Not raising the debt ceiling could trigger a recession, increase interest rates and possible result in worse repercussions.