What is the debt limit?

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WASHINGTON — Democrats and Republicans were able to avoid a government shutdown after a Thursday night vote. However, the two parties have not been able to come to an agreement to raise or suspend the debt limit to avoid a financial crisis. The 'debt limit', often referred to as the 'debt ceiling,' is the maximum amount that the Treasury Department is allowed to go into debt. WHAT IS THE DEBT LIMIT? "The debt limit is the amount of money that the government is allowed to borrow," said Kahn. "Which the government uses to meet existing obligations. It's a statutory limit in law." HAVE BOTH PARTIES SUSPENDED THE DEBT LIMIT IN THE PAST? Yes. According to the Bipartisan Policy Center, the debt limit has been suspended numerous times over the last decade, including three times during the Trump presidency. "Both parties on a bipartisan basis have voted to increase the debt ceiling," said Kahn. "Because in the past, both parties have recognized that this debt is a bipartisan obligation and responsibility." IS BIDEN'S PROPOSED SPENDING THE REASON WE NEED TO RAISE THE DEBT CEILING? No. According to our experts, the debt ceiling needs to be raised or suspended because of past spending and reductions in revenue. "The reason the debt ceiling has to be raised is because we are paying the bills for spending and tax cuts that Congress has already approved," said Wessel. "Even if Congress didn't pass one nickel of Joe Biden's agenda, we'd still need to raise the debt ceiling." Does truth matter anymore? Our enemies want us divided! Dont let them win!