What is the debt limit? What happens if we hit it? What would be the consequences of failing to raise it in time? This short summary answers these questions and more.

What are extraordinary measures and how long can they last?

The debt limit has manifestly failed to restrain federal borrowing, but it has created periodic crises that consume Congress’ time and cause the United States to walk right up to the edge of default. Is there a better way? In this blog, G. William Hoagland, Shai Akabas, and Tim Shaw propose an alternative mechanism that would enforce fiscal discipline while avoiding dangerous brinkmanship.

How much do you know about the debt limit? Learn to separate the facts from the myths.

Five times in the past decade the U.S. federal government narrowly avoided a potentially catastrophic default on federal obligations due to political brinkmanship over the debt limit. Here is a history of our close escapes from default.

2020 was an unprecedented year. Below we highlight our most popular content.