The debt ceiling, explained.
Tangle
Isaac Saul
4.8 • 672 Ratings
🗓️ 17 January 2023
⏱️ 27 minutes
🧾️ Download transcript
Summary
The debt ceiling (or debt limit). During the recent debate over the next Speaker of the House, one of the key impending issues was the debt ceiling, or debt limit. Several conservative House members used the upcoming deadline to raise the debt limit to leverage a commitment from Kevin McCarthy to force spending cuts by Congress. Since being elected Speaker, McCarthy has confirmed that Republicans won't raise the debt limit without changes to federal spending, including programs like Social Security and Medicare.
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Transcript
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