With the government shutdown averted, talk in Washington has turned most recently to agreeing on what to do about the “debt ceiling,” essentially a self-imposed limit on how much debt the United States can assume. We tracked down some debt ceiling explainers to get a better idea of what it means.
First, take a look at this CBS News explainer on The Defecit Vs. The Debt. It’s from mid-February, but still relevant.
Second, watch this ABC News explainer video, called Budget Cuts: Where Does the Money Go?. It attempts to visualize the budget problems with pennies. It is also from mid-February. The original YouTube video that they cite can be found here.
OK, now we can look at the debt ceiling.
Updated, 4/20/11, 10:31pm: Reuters examines scenarios under which Congress could raise the debt ceiling.
Updated, 4/19/11, 11:46pm: Ezra Klein of the Washington Post looks at possible repercussions surrounding the debt ceiling standoff.
Updated, 4/19/11, 11:38pm: The Washington Post has a graphic as well as a FAQ about the debt ceiling.
Updated, 4/18/11, 5:35pm: WNYC looks at some of the options that have been proposed for dealing with the issue of the debt ceiling.
The Washington post has a breakdown of thekey players involved.
Four minutes is all you need to watch this Reuters video, The Debt Ceiling Explained.
NPR looks at the debt ceiling, particularly its origins.
American Public Media’s Marketplace explains the ceiling through conversation.
ABC News looks at the real consequences of the fight over the debt ceiling.