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    Thread: US Debt ceiling

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      Exclamation US Debt ceiling

      Hello people,

      I am from Singapore and I rather confused about this US debt ceiling. I am not exactly sure how it works. Sorry when I am listening to the news that it would close down congress? Does it mean if the debt ceiling is not raised, the government shut down. It sounds like a scary situation so why would the president or any party prevent the raising of debt ceiling.

      The other thing is why they are not able to control the debt ceiling. Is there any way to cut spending to control the situation?

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      Vaisaak (09-25-2017)

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      Quote Originally Posted by Dixie View Post
      Hello people,

      I am from Singapore and I rather confused about this US debt ceiling. I am not exactly sure how it works. Sorry when I am listening to the news that it would close down congress? Does it mean if the debt ceiling is not raised, the government shut down. It sounds like a scary situation so why would the president or any party prevent the raising of debt ceiling.

      The other thing is why they are not able to control the debt ceiling. Is there any way to cut spending to control the situation?
      There was a news of USA debt of 200$ million and it shows America's economy is not that much intact. But be best at your home to trade in the Dollar side.

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      Vaisaak I think the debt is in the region of 20 trillion dollars, but they still continue to spend on military and all as the security of the world is at stake. Now the problem does not seem to be the amount of debt but the perceived economy of the country. That is able to support the debt. Not sure how it goes

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      I'm not an expert when it comes to countries debt, but one thing I know is that this world debt keeps on rising and I think it will never be paid. The World Bank keeps lending money to poor countries so they can take advantage on economic agreement and of course their currency interests. This is how the Capitalism works until it will finally collapse hundred years later. It sounds conspiracy but this is the truth just like the world(Earth) will die millions years later.

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      Well never bother about that very much you just take a good look at what the market is doing and you will understand what will happen to the United state dollar per time because if the United States can not borrow anymore then it will affect their economy and also it will weaken their currency and the market will react.

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      Quote Originally Posted by Dixie View Post
      Hello people,

      I am from Singapore and I rather confused about this US debt ceiling. I am not exactly sure how it works. Sorry when I am listening to the news that it would close down congress? Does it mean if the debt ceiling is not raised, the government shut down. It sounds like a scary situation so why would the president or any party prevent the raising of debt ceiling.

      The other thing is why they are not able to control the debt ceiling. Is there any way to cut spending to control the situation?
      Debt ceiling is basically the maximum amount of debt they can have at a given time. With the US debt ceiling, they always raise their debt ceiling whenever it about to reach maximum. They have been doing that ever since.

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