What is the debt ceiling? - Northern Michigan's News Leader

What is the debt ceiling?

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The fear of the looming debt ceiling deadline has Congress squaring off against each other but do you know exactly what they are fighting about?

The debt ceiling is the limit of money the United States government is allowed to borrow to pay its bills.That means pay its creditors, pay for its programs and pay its people.

As the government grows, that number grows with it so periodically the debt ceiling must be raised.

9&10 News' Eric Lloyd and photojournalist Jeff Blevins looked into the debt ceiling crisis and have more details.

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