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What is the U.S. debt ceiling and why it’s important

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The United States’ national debt is set to default on Thursday.

In a letter sent to lawmakers, U.S. Treasury Secretary Janet Yellen warned that the U.S. is expected to hit its $31.4 trillion debt limit this week.

Congress is working on the issue, but it remains to be seen if lawmakers on Capitol Hill will actually raise the debt ceiling.

The debt ceiling is the amount of money the U.S. is allowed to borrow to pay for its vast commitments.

Basically, in the U.S., the debt ceiling or debt limit is a legislative limit on the amount of national debt that can be incurred by the U.S. Treasury.

This limits how much money the federal government can pay on the debt they already borrowed.

Currently, the U.S. government borrows large sums of money in order to cover all of its expenses. However, decades ago, Congress created the debt ceiling in an effort to avoid having to approve each new debt individually.

Since then, lawmakers have raised the debt ceiling dozens of times. When this happens—Congress allows the government to take on enough debt to settle the spending obligations it has already made.

If Congress is unable to raise the debt limit in time, the U.S. can only use incoming cash to pay its current commitments which in effect would create a large deficiency.

This is the first debt limit fight since Republicans took control of the House. So far, House Speaker Rep. Kevin McCarthy has signalled that he might leverage the negotiations in order to secure deep spending cuts.

But President Joe Biden and a Senate controlled by Democrats strongly oppose spending cuts.

Veronica Dudo is the U.S. Correspondent for Ticker News covering America’s biggest headlines. As an Emmy® Award nominated global journalist, Veronica has traveled across the country and around the world reporting on historical events that connect all citizens. Lauded as an award-winning international journalist, Veronica has executed stellar news coverage for NBC News, CBS News, The Hill, ME-TV Network and AOL. Her stories have highlighted a plethora of topics ranging from breaking news and politics to economic affairs across the USA, European Union, and Asia; cultural affairs; globalization; governance; education; and sustainability.

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Google leads Australia media tax rankings

Google leads in Australian media tax payments, unlike Netflix and others, igniting discussions on fairness and corporate responsibility.

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Google leads in Australian media tax payments, unlike Netflix and others, igniting discussions on fairness and corporate responsibility.


Google is currently on the of top of Australian media tax payments, while Netflix, Dentsu, and Singtel pay nothing, sparking a fresh debate over fairness and corporate responsibility in the industry.

#TaxTransparency #Google #Netflix #CorporateResponsibility #AustraliaBusiness


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Trump eyes Middle East visit as Gaza ceasefire talks advance

Trump may visit Middle East this weekend as Kushner seeks Gaza ceasefire amid positive Egypt talks and Turkey’s confirmation.

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Trump may visit Middle East this weekend as Kushner seeks Gaza ceasefire amid positive Egypt talks and Turkey’s confirmation.


President Trump may visit the Middle East this weekend as Jared Kushner and envoy Steve Witkoff push for a Gaza ceasefire.

Recent Egypt talks and cooperation from Israel and Hamas raise hopes for a deal, with Turkey confirming progress.

#GazaCeasefire #TrumpMiddleEast #Kushner #PeaceTalks #IsraelHamas


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US government takes 10% equity in Trilogy Metals

U.S. takes direct 10% stake in Trilogy Metals to enhance supply chain security for AI, clean energy, and defense.

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U.S. takes direct 10% stake in Trilogy Metals to enhance supply chain security for AI, clean energy, and defense.


The U.S. government’s 10% stake in Trilogy Metals marks a shift from subsidies to direct ownership in strategic industries.

Experts say this approach aims to secure supply chains for AI, clean energy, and defense, reducing reliance on foreign sources for critical minerals and tech components.

#TrilogyMetals #USIndustry #CriticalMinerals #SupplyChainSecurity #AI #CleanEnergy #DefenseTech #IndustrialPolicy


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