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The White House and Congress are locked in a standoff, once again, over whether to raise the debt ceiling\u2014the legislative limit on the total amount of money the federal government is authorized to borrow. Not raising the cap before the U.S. defaults on its debts could have a big impact on the country\u2019s economy, as well as the world\u2019s. <\/p>\n
While a full-blown default hasn\u2019t technically happened before, the U.S. has come close to missing payments\u2014and in one case, failed to make a timely payment<\/a>. Looking at what occurred during those past events can be instrumental in understanding what is at stake this time around. One big takeaway: Plenty of damage can be incurred by simply approaching the so-called debt cliff.\u00a0<\/p>\n<\/p><\/div>\n\n The White House and Congress are locked in a standoff, once again, over whether to raise the debt ceiling\u2014the legislative limit on the total amount of money the federal government is authorized to borrow. Not raising the cap before the U.S. defaults on its debts could have a big impact on the country\u2019s economy, as …<\/p>\n","protected":false},"author":1,"featured_media":44951,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[161],"tags":[],"_links":{"self":[{"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/posts\/44950"}],"collection":[{"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/comments?post=44950"}],"version-history":[{"count":0,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/posts\/44950\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/media\/44951"}],"wp:attachment":[{"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/media?parent=44950"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/categories?post=44950"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/tags?post=44950"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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