What the Debt Ceiling Debate Means for Your Money

What the Debt Ceiling Debate Means for Your Money

The United States officially hit its debt ceiling on Thursday, Jan. 19, according to a letter from Treasury Secretary Janet Yellen. "Failure to meet the government's obligations would cause irreparable harm to the U.S. economy, the livelihoods of all Americans, and global financial stability," she warned. What is the debt ceiling?