The US Is Nearing Its Debt Limit - California Gazette

Debt Limit : The US is on the Verge 1 . California Gazette Hit The Debt Limit That means the government can only borrow more money if Congress agrees to change or get rid of the limit , which is almost $ 31.4 billion . 5 . 2 . Avoid Exceeding To avoid going over the limit , the US Treasury can handle the situation by taking " extraordinary " steps . In the past , this has meant stopping investments it was supposed to make into retirement 3 . Bigger Problem The debt limit was first implemented in 1917 so that the government could raise money more easily during the First World War . It lets Congress keep track of how much money is being spent . 4 . Debt Ceiling McCarthy said on Fox on Sunday that now is a good time to " look at the ways we can change our behavior " because " what we're going to do is bankrupt this country . " Government Shutdown People often get the two mixed up , but a government shutdown happens when Congress doesn't pass a bill to pay for the government . To Know More www.cagazette.com \\ /