Here's What's In The Debt Ceiling Deal

CNN.com - RSS Channel - Politics, CNN: Politics
Tue, 05/30/2023 - 11:45am

After several weeks of tense negotiations, President Joe Biden and House Republicans have reached an agreement in principle to address the debt limit and cap spending.

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  • The U.S. Debt Ceiling: Everything You Need to Know
    The national debt now stands at $28.43 trillion, according to the Peter G. Peterson Foundation’s live tracker. Currently the borrowing cap is set at $28.4 trillion, leaving the federal government...
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  • Debt Limit | U.S. Department of the Treasury
    The debt limit is the total amount of money that the United States government is authorized to borrow to meet its existing legal obligations, including Social Security and Medicare benefits, military salaries, interest on the national debt, tax refunds, and other payments. The debt limit does not authorize new spending commitments.
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