From Maple Capital Management
By now, you have probably been hearing a lot about the debt ceiling. Democrats and Republicans are arguing about how to resolve the issue and it seems likely to remain a contentious matter for much of this year. But what is the debt ceiling and why is it important? Here’s a quick refresher on the topic.
The debt ceiling, also known as the statutory limit on government debt, is a legislative limit set by Congress on the amount of debt the federal government is allowed to accumulate. The debt ceiling acts as a cap on the total amount of debt that the federal government can legally borrow to finance its spending and obligations. Click here to read more.
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