For more business and finance explainers, check out our Yahoo U page. For the federal government, “raise the roof” is anything but fun — it means things could spiral into disaster. It all concerns a legislative feature that has existed in American politics for over 100 years: the debt ceiling. As a mechanism to enforce prudence over government spending, Congress establishes a statutory limit on the amount of money that the federal government owes. When the government breaches that limit,… Source link
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