Tales from the Trail

The debt ceiling explained

By Reuters Staff
April 1, 2011

The U.S. debt ceiling is a hot topic in Washington these days, but what is it exactly? Here’s a short video explaining how the debt ceiling works and the political issues around its extension.

Illustrations by Brice Hall

Comments
5 comments so far | RSS Comments RSS

And what about the Secret “Black Budget”?? It is paid for in tax dollars as well and almost all of it is exported out of the country. But it is treated the same in funding as the “White” budget — US Treasury Bonds.

Congress just loves spending secret money that it does not have to explain. Hidden sins. And no one talks about it.

Posted by txgadfly | Report as abusive
 

what you are seeing is the super rich stealing money from the US government and putting the blame on S.S. so they can get rid of S.S. payments and steal all the S.S. tax money.

Pretty simple to understand.

Posted by JEYF | Report as abusive
 

Makes one wonder what are other venues for government to pay off the debts owed?

Posted by MythNReality | Report as abusive
 

The video has some great graphics, however it seems to blame

(1) 1980′s defense spending (Constitutionally required to protect U.S. interests), which prior to this had been slashed and tech outdated; and

(2) “Tax cuts” as for the problem of the deficit.

That is not exactly the true reason why were are in this debt situation.

The REAL problems of the deficit are:
(1) Government spending more money than they take in; (2) Entitlements. Both are not adequately being addressed.

It would also be false to argue that the so called “rich” only got a tax cut – Related Articles: http://t.co/lmBvr23 and http://t.co/TN8WodS

Further Reading:
“Economic Crack. Risk to the U.S. Economy” http://t.co/euyBwGY

NetAdvisor.org is a non-profit organization.

Posted by netadvisor.org | Report as abusive
 

Best explanation on the web!

Posted by wadenelson | Report as abusive
 

Post Your Comment

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/