Everything You Need to Know About the Debt Ceiling Crisis – Again

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  • The Sky May Actually Fall
  • What Is the Federal Debt Ceiling?
  • What Is the Current Debt Ceiling?
  • Why Does the U.S. Even Need a Credit Limit?
  • How Many Times Has the Debt Ceiling Been Raised?
  • When Will the U.S. Reach the Debt Ceiling?
  • What Will Happen If It Isn't Raised?
  • How Would a Default Affect Me?
  • So Why Are Congress and the White House Arguing About This?

What Is the Current Debt Ceiling?

It is currently $16.7 trillion, but the limit was reached in May. Since then, the Treasury Department has taken "extraordinary measures" to continue paying the nation's bills.

(Photo: Pete Marovich/Bloomberg via Getty Images)

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