Understanding the intricate dance of the debt ceiling is not merely an academic pursuit but a key to deciphering the ebbs and flows of the US economy. The debt ceiling is a statutory limit set by Congress on the amount of debt the federal government is allowed to incur. Picture it as a financial guardrail, designed to prevent excessive spending and ensure a semblance of fiscal responsibility. When the ceiling is reached, the government can no longer issue Treasury bonds or bills to cover its expenses. Now, you might wonder, why should the average US citizen be concerned about this seemin...
