US debt is approaching its ceiling of 31.4 trillion USD. Historically, the debt ceiling is always raised because a default on US debt can threaten global financial stability. Nik Bhatia, author of the Layered Money and Adjunct Professor of Finance at USC, estimates the debt ceiling will be reached in early June, so expect a vote on the debt ceiling around that time.
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US Debt Ceiling Approaches
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US debt is approaching its ceiling of 31.4 trillion USD. Historically, the debt ceiling is always raised because a default on US debt can threaten global financial stability. Nik Bhatia, author of the Layered Money and Adjunct Professor of Finance at USC, estimates the debt ceiling will be reached in early June, so expect a vote on the debt ceiling around that time.