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

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  • 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
  • What Is the Federal Debt Ceiling?
  • What Is the Current Debt Ceiling?
  • Why Does the U.S. Even Need a Credit Limit?

So Why Are Congress and the White House Arguing About This?

Republicans want to cut government spending by the same amount it would raise the debt ceiling. President Obama is insisting on a "clean" debt ceiling bill without any strings attached.

(Photo: Alex Wong/Getty Images)

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