What Is The Debt Ceiling?

| May 21 2013

Bankrupting America Launches New Debt Ceiling Resource Center

“Literal Debt Ceiling” Web Series To Highlight Key Issues

 

Arlington, Va.Bankrupting America, a project of Public Notice, today launched a Debt Ceiling Resource Center to provide facts and the latest news and developments as Congress debates increasing the nation’s debt ceiling this summer.  The resource center will educate Americans about the key drivers of the debt, provide a 10-year projection of future increases and explain why any deal in Congress must include equal to or greater spending cuts in return.

To help put the issue into perspective, Bankrupting America will also launch a new video series, “The Literal Debt Ceiling,” consisting of short web videos that will help break down the key issues, provide a commonsense perspective and highlight the dangers of failing to fix the problem.  “The Literal Debt Ceiling” will offer a new and creative way to think about spending issues and cut through the political rhetoric clouding the debate.

Gretchen Hamel, executive director of Public Notice, issued the following statement:

“The debate this summer about increasing the debt ceiling is an important reminder that Washington has failed repeatedly to live up to its promises to get spending under control.  Increasing the debt ceiling without equal or greater spending cuts or reforms does nothing to address our long-term fiscal crisis. Debt and spending remain top concerns for Americans, and this resource center will help hold members of Congress accountable.”

The official borrowing limit for the United States expired on Sunday, May 19, 2013, but the U.S. will not hit the actual debt limit until later in September or October, according to the Treasury Department.

Click Here to View the Infographic

Click Here To Watch the Video

Click Here to Visit the Debt Ceiling Resource Center

 

BankruptingAmerica.org is an educational project of Public Notice, an independent, nonpartisan, non-profit, 501(c)(4) organization dedicated to providing facts and insight on the effects public policy has on Americans’ financial well-being.

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