Explained: What is the debt ceiling & what happens if Congress does not raise it?-Trailer

Over the past few years, we have repeatedly heard in the news that the federal government’s debt keeps reaching the debt ceiling and that Congress needs to approve an increase in the ceiling.

Most of the time, of course, Congress has successfully raised the debt ceiling to get through the crisis. But what happens if Congress does not approve a debt ceiling increase?

In the past, a Trillion Dollar Platinum Coin proposal has been made. Will such a solution be proposed again in 2023 while the House of Representatives threatens not to raise the debt ceiling this time?

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