The Debt Ceiling in 2023: An In-Depth Analysis of Government Debt

U.S. debt – issued in the form of U.S. Treasury securities – is considered among the safest investments in the world because the U.S. has never defaulted on its debt and can issue its own currency, the world’s reserve currency. Failing to increase or suspend the debt ceiling could lead to the U.S. government defaulting on its debts for the first time, which could shock the global economy and permanently call into question the full faith and credit of the U.S. government.

In short, no one in America wins if the federal government defaults on its debt. Consumers, businesses, and taxpayers in the U.S. – and around the world – lose. Default is not an option. Read the in-depth analysis about federal debt, its history and prognosis.