American Dream, American Debt
Some Perspectives on the U.S. Debt Ceiling Crisis
According to the U.S. Treasury, by next Tuesday, August 2 the U.S. Congress must reach consensus and pass some kind of agreement to allow the U.S. Government to borrow beyond the $14.3 trillion debt ceiling, which was last raised on February 12, 2010. Failure to do so will leave the U.S. government with insufficient funds to continue its payments, including its upcoming debt obligations. This “default,” if it happens, would downgrade America’s credit rating, increase its borrowing costs, and create havoc as yet unknown on world markets.
Share this page with your social networks:
Want to host the image yourself?
You have our permission to host copies of the full infographic on your own site. However, we ask that you link to this page from somewhere on the page that uses the infographic, and that you consider using the suggested text below:
- American Dream, American Debt, by OANDA
- American Dream, American Debt, used with permission of OANDA