Exploring the Impact of the 2023 US Debt-Ceiling Crisis on Money and Investing The current debt ceiling in the US is upwards of $31 trillion – and yet it is nearly being breached. As a result, it will likely be increased by lawmakers in the US so join us this week as we dive into the key things to look out for! The debt ceiling is such a major talking point for a couple of reasons. Firstly, Host Andrew Baxter points out that within the American Constitution is a specified provision for what is an acceptable amount of debt for the government to be owing. If the debt breaches that ceiling, Congress is then forced to take action to raise the debt ceiling so that it is breached. If the debt does in fact exceed that debt ceiling level and Congress does not take action to rectify it, the consequence would be a catastrophic shutdown of the economy. Government workers would not be paid and pretty much all core government activities would screech to a halt which would ultimately cause a major knock on effect to the rest of the economy. Importantly also, an admission from the US that they are unable to service their debt in the future, as a global economic superpower, the rest of the world would have to be greatly concerned and the shockwaves would span across the entire world economy. Countries owed money by the US would be very concerned to hear they will not be receiving any remuneration and overall we would probably see some mass conflicts along with the major economic turmoil around the world. So the debt ceiling is definitely something we need to make sure we are on top of. https://andrewbaxterreview.wixsite.com/blogs/post/effects-of-the-2023-us-debt-ceiling-crisis-money-and-investing #AndrewBaxter #AustralianInvestmentEducationReview #AustralianInvestmentEducationCourseCost