If the debt ceiling is basically available credit, does the government need to pay this before requesting more credit? Why or why not?
Please no political answers.
In: 0
No.
The debt ceiling is a completely arbitrary limit placed by Congress. Congress can raise it at any time. It has nothing to do with the credit actually available.
People are more than willing to continue lending to the government at a rate of 4.65% at the time of writing, considerably lower than just about anyone else can get.
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