DEBT CEILING 101

This is a ckear and simple explanation of something I've seen completely misunderstood in arguments on Facebook recently. Being a musician and a songwriter, I really appreciate these kinds of articles since I, like so many, don't have any background to understand financial matters and the inner workings of our government seems like a matrix made of quicksand.

Mike Patton wrote this article on Forbes:I write for a world filled with confusion and self-interest. If you agree that people search for simple, straight-forward and unbiased analysis follow along as we "Make Cents" of topics ranging from the economy (including a splash of political analysis), the world of investing, and financial planning (ex; estate & tax, insurance, risk management, and retirement strategies).

In this article, we will explain the debt ceiling; examine a few rules that govern it, discuss the current national debt, and reveal what could happen if Congress fails to raise it.

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