Could the US default on its debt?

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Added 11 months ago by XaniaNews

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In the United States, lawmakers are scrambling to agree on a plan to raise the amount of money the government can borrow. If no deal can be reached by June 1st, the country would default on its debt - a move that could have a catastrophic effect on the US and global economy. But what exactly is the "debt ceiling," and why does it matter so much?

#usa #debt #globaleconomy

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Category: News and politics
Tags: DW News, usa, debt

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