Amna Nawaz
@PBSNewsHour·5.3M subscribers·62.2K videos
Why does the U.S. even have a debt ceiling?
Posted
December 20, 2024
Views
7,609
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349
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December 20, 2024
7,609
349
4.59%
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1:36Now PlayingJust as Congress had agreed on a deal to prevent a government shutdown this weekend, President-elect Donald Trump said he did not support any legislation that did not address the nation's debt ceiling.
In June 2023, President Joe Biden signed legislation that suspended the debt ceiling until 2025. Now, Trump either wants Congress to "get rid of, or extend out to, perhaps, 2029, the ridiculous Debt Ceiling,” according to his recent social media posts.
But why does the U.S. federal government have a debt limit to begin with? PBS News' Congressional Correspondent Lisa Desjardins explains.
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