What is the US Debt Ceiling, and should I care?

The US Debt Ceiling is likely a concept that you’ve heard of or read headlines about within the last couple of months. It is starting to garner a little more attention given the proximity to the June 1st “X-date”.

In short, the debt ceiling is a restriction imposed by the US Congress on the amount of debt outstanding the Federal Government can have. The purpose of a ceiling is to ensure that the federal government doesn’t increase its debt load to the point that it cannot pay its obligations and maintain future investments.

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