When there is a budget deficit , the only way that the shortfall can be paid off is by issuing of debt instruments. Under the federal law of US, the amount that the govt. can borrow is limited by the debt ceiling, which can only be increased with a vote by congress.
CURRENT POSITION OF US
Do you think it is a one day activity? It took US more than 30 years to be at this position.
CAUSES OF THE DEBT CRISIS
WAR AGAINT DIFFERENT COUNTRIES
BAIL OUT BY US ECONOMY
SUB - PRIME ISSUE
WAR AGAINST DIFFERENT COUNTRIES US HAS GONE FOR WAR AGAINT IRAQ US HAS GONE FOR WAR AGAINT AFGHANISTAN US HAS ALSO SUPPORTED MANY WAR AGAINST IRAN,LIBYA AND MANY MORE
BAIL OUT BY US ECONOMY SOME RECENT BAILOUTS
SUB PRIME ISSUE
RECESSION Impact Of Debt Crisis
Impact Of Debt Crisis
Adversely affecting the countries relying on exports to US