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Republicans in Congress and President Biden are at odds over raising the debt ceiling, the amount of borrowing that the United States is legally permitted to do. And X-date is approaching on June 1.
What is the “debt ceiling?”
The debt ceiling sets a ceiling on the overall amount of borrowing by the government. Before the First World War, Congress had to give its permission before the U.S. Department of the Treasury could issue bonds to pay for public expenditures. Читать дальше...