Why the US is always hitting a "debt ceiling"

Is the huge US national debt a problem? Subscribe and turn on notifications 🔔 so you don t miss any videos: http://goo.gl/0bsAjO Nearly every year, America seems to teeter on the edge of a crisis as the national debt comes dangerously close to hitting the “debt ceiling” and the President and Congress fight over raising it. The “debt ceiling” is really just a limit on how much debt the country can take on. While the US isn’t the only country to have one, it is the only country to have legislation that regularly puts it on the brink of economic disaster. The current US debt is nearing $29 trillion. That s a trillion with a T. Is that… too much? And who does it affect? Want to know what the US national debt is as of right now? Here’s where the Treasury has it updated: https://fiscaldata.treasury.gov/datasets/debt-to-the-penny/debt-to-the-penny The Treasury also updates the foreign investor totals every month: https://ticdata.treasury.gov/Publish/mfh.txt You can read more about the US debt ceiling and how to fix it from Vox’s Dylan Matthew: https://www.vox.com/policy-and-politics/22684328/us-debt-ceiling-government-shutdown-biden-democrats And more about when the US was downgraded in 2011: https://www.washingtonpost.com/business/economy/sandp-considering-first-downgrade-of-us-credit-rating/2011/08/05/gIQAqKeIxI_story.html If you want to see what your country’s debt is, the OECD keeps this data updated regularly: https://data.oecd.org/gga/general-government-debt.htm Vox.com is a news website that helps you cut through the noise and understand what s really driving the events in the headlines. Check out http://www.vox.com. Make sure you never miss behind the scenes content in the Vox Video newsletter, sign up here: http://vox.com/video-newsletter Watch our full video catalog: http://goo.gl/IZONyE Follow Vox on Facebook: http://goo.gl/U2g06o Or Twitter: http://goo.gl/XFrZ5H