The US debt ceiling crisis, explained – BBC News

Published: 10 May 2023
on channel: BBC News
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The US government could start to run out of money within weeks unless it allows itself to borrow more.

And, if US congress fails to agree on a deal, the US could default on its debt, potentially causing global financial chaos.

Domestically, the government would no longer be able to pay its employees, and national parks and other agencies would shut down.

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