In this video, Sal Khan explains the basics of federal deficit and what debt ceiling is. It starts with the distinction between deficit and debt. After that it explains the concept of debt Ceiling. In the US, the congress has the pwer to limit how much cumulative debt the US can have. The current debt limit is $14.3 trillion. However, the congress can up the limit to support the extra funding required.
This site uses Akismet to reduce spam. Learn how your comment data is processed.