Birdwatch Note Rating
2023-05-24 13:31:23 UTC - HELPFUL
Rated by Participant: 15AEB3CCD6D8A0C3870FD47E91AEEE8A33291EB130EC3FDE66480115F9EE22A9
Participant Details
Original Note:
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.
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