The Debt Ceiling Debate
The debt ceiling is dominating headlines as we narrow in on the potential X-date—at which time the U.S. Treasury will have insufficient cash to pay interest on the debt along with its other obligations. That date may arrive in early June, or potentially even sooner. While the likelihood of a U.S. government default is very low, the chance that this will be an issue until the very last minute is high. What Is The Debt Ceiling?There are two ways the US government pays its existing bills: tax revenue and proceeds from debt. Its bills include Social Security, Medicare, Medicaid, military expenditu...