Debt ceiling: America's budget crisis of its own creation

Fire up the giant digital billboards with their ever-increasing dollar displays. Start calculating how much every American man, woman and child owes. Cue the comparisons to a family budget, or credit-card spending or running a small business.

If the US issues new government debt in the form of Treasury bonds, bills, notes and securities, there will be investors, both in the US and abroad, who are interested buyers. The dispute over the national debt, then, is not one of economics but of politics. Republicans are attempting to use a legal requirement that Congress set a cap on the amount of new debt the US Treasury can issue to force the White House and Democrats in the Senate to agree to sweeping spending cuts in exchange for an increase in the debt limit.

Their efforts were somewhat successful, as Mr Obama and the Republicans agreed to caps on government spending.

When Amerika goes down they take the rest of us with them. Last-minute looting by the 'big boys' going on now, don't you see it?

Na! Fuck that! Give Ukraine some more money as there's plenty of it.

And you have a least qualified far right gop ever, in charge of the lower house intent of trying to score points, prop up an insurrectionist and will destroy their country.

The Inflation Reduction Act was a climate plan designed to create more inflation. That along with us supporting the endless war in Ukriane.

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