The battle over raising the debt ceiling has threatened to rattle markets and wreak havoc on the US economy. Bloomberg's Claire Ballentine explains.
Political leaders in Washington have been arguing for months over the federal debt limit and the conditions under which to raise it. Failure to come to an agreement would mean a first-ever default on some of the government’s obligations.
The debt ceiling is essentially a cap on US government borrowing, right now at nearly $31.4 trillion. Since January, Treasury Secretary Janet Yellen has been using special measures to avoid a payment default, but she’s warned that the Treasury risks running out of cash for its obligations as soon as June 1. JPMorgan CEO Jamie Dimon and other bank executives have warned of dire consequences if a deal isn’t reached.
--------
Subscribe to our YouTube channel: [ Ссылка ]
Subscribe to Bloomberg Originals: [ Ссылка ]
Bloomberg Quicktake brings you global social video spanning business, technology, politics and culture. Make sense of the stories changing your business and your world.
Connect with us on…
YouTube: [ Ссылка ]
Breaking News on YouTube: [ Ссылка ]
Twitter: [ Ссылка ]
Facebook: [ Ссылка ]
Instagram: [ Ссылка ]
