Birdwatch Note Rating
2023-05-25 01:02:19 UTC - HELPFUL
Rated by Participant: 7D5DF3DB7D014F0BBD1D9FCEAAA8C57D09B3192A183049C455840F9079CCF075
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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