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?

The Sky May Actually Fall

The United States is fast approaching the date when it will no longer have enough money to meet its financial obligations. According to most other lawmakers and economists, a default would not only cause significant harm to the U.S. economy, but could also trigger a global economic crash. Fitch, a major credit agency, has already put the government's credit on "Ratings Watch Negative." Here's what you need to know. – Joyce Jones


(Photo: TIM MCCAIG/GettyImages)

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