Birdwatch Note Rating
2023-05-24 17:47:24 UTC - HELPFUL
Rated by Participant: C7F0C01AADB42277BB2C3C0FA4ECDB491D83F9C9A2C2A54D6968CB2BF32E28EE
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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