How worried should we be if the debt ceiling isn’t lifted?
www.brookings.edu
If the debt ceiling binds, and the U.S. Treasury does not have the ability to pay its obligations, the negative economic effects would quickly mount and risk triggering a deep recession. The debt limit caps the total amount of allowable outstanding U.S. federal debt. The U.S. hit that limit—$31.4 tr
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- If the debt ceiling binds, and the U.S. Treasury does not have the ability to pay its obligations, the negative economic effects would quickly mount and risk triggering a deep recession.
- The debt limit caps the total amount of allowable outstanding U.S. federal debt. The U.S. hit that limit—$31.4 trillion—on January 19, 2023
- The economic costs of the debt limit binding, while assuredly negative, are enormously uncertain.
- the very short-term effects largely depend on the expectations of financial market participants, businesses, and households.
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