What is the debt limit?
The debt limit is the legal limit on how much debt the US government can borrow. When the debt limit is reached, the Treasury Department can no longer issue new debt, and the government faces the possibility of defaulting on its obligations.
Why is the debt limit rising rapidly on Google Trends?
The debt limit is rising rapidly on Google Trends because Congress is currently debating whether to raise the debt limit. The Treasury Department has warned that the government will reach the debt limit on October 18, 2021. If the debt limit is not raised, the government will face the possibility of defaulting on its obligations, which would have a devastating impact on the economy.
What are the potential consequences of not raising the debt limit?
If the debt limit is not raised, the government would face the possibility of defaulting on its obligations. This would have a devastating impact on the economy, causing interest rates to rise, the stock market to crash, and the value of the dollar to fall. It would also make it more difficult for the government to borrow money in the future, which would lead to higher interest rates and less money available for programs that benefit Americans.
What are the chances of Congress raising the debt limit?
Congress is currently debating whether to raise the debt limit. The Democratic-controlled House of Representatives has passed a bill to raise the debt limit, but the Republican-controlled Senate has not yet voted on the bill. It is unclear whether the Senate will vote to raise the debt limit before the October 18 deadline.
What can you do to help?
You can help by contacting your elected officials and urging them to support raising the debt limit. You can also spread the word about the importance of raising the debt limit on social media and other platforms.
The AI has provided us with the news.
I’ve asked Google Gemini the following question, and here’s its response.
Please search for “yellen debt limit warning congress” which is rapidly rising on Google Trends US-FL and explain in detail. Answers should be in English.
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