When the US hits the debt ceiling, the Treasury uses emergency measures to avoid default

The US is one of two countries that abide by a predetermined borrowing limit

When the Treasury hits this “debt ceiling,” Congress has to pass a bill increasing the borrowing threshold. Failure to do so may lead to a financial crisis.

The debt ceiling is the threshold Congress sets for federal borrowing

If the US reaches this limit and Congress doesn’t pass a bill to raise it, the government cannot repay its debts. Suddenly, investors would lose assurance that the Treasury would make good on its securities, which have long been considered the safest type of investment.

The federal debt ceiling 101

The debt ceiling periodically takes center stage as Congress debates whether to increase or suspend this self-imposed limit on its borrowing authority. Learn the basics on this crucial feature of US fiscal policy with this Q&A.

What happens if the US doesn't pay its debt?

A video created during the debt ceiling debates of 2021 outlining what would happen if the US failed to meet its debt obligations. Its lessons are applicable to today's debates.

The current federal budget, deficit, and debt, in charts

The US Treasury regularly publishes updated data on the federal budget, and this site hosts visualizations of that data. See reports on spending, revenues, deficits, and where the national debt stands.

The US national debt has become more important in recent months

In a moment of deep economic uncertainty, the national debt now matters more than ever. Listen to this podcast to find out why and also explore answers to questions like, "Who does the US owe money to and why?"

A 'debt trap' refers to the need for loans or credit to cover the expenses incurred from other debt

Debt traps can be caused by unforeseen expenses or inadequate savings and can be a brutal cycle to break. At the end of 2025, total household debt in the US reached $18.8T, according to data from the Federal Reserve of New York.

Treasury bonds, notes, and bills are critical vehicles for the federal government to raise money for public expenses and manage the national debt

For investors, they're all usually considered low-risk options since they’re backed by the federal government.

Congress often uses stopgap bills to keep the government running

When lawmakers fail to pass a full budget, they rely on continuing resolutions to fund the government temporarily. This guide explains how CRs are enacted, how they function, and why they disrupt normal operations.

During COVID-19, the Fed made drastic moves in attempts to shore up the US economy called quantitative easing

The Fed took an aggressive approach to help the US economy during COVID-19 beyond standard monetary levers, including broad purchases of mortgage-backed securities, Treasury securities, and more.

In 2025, the 'two strikes and you're out' rule took effect to protect consumers from repeated attempts to withdraw money

After years of being delayed by litigation, a 2024 US Supreme Court ruling upheld a law that prevents lenders from attempting to take payments from accounts with insufficient funds more than twice without reauthorization. This tactic is commonly used by payday loan companies, which technically require repayment on the day borrowers receive their paychecks.

US consumers collectively owe more than $1T to credit card companies—almost as much as they owe in auto loans.

Alexander Hamilton consolidated states' debts, implemented a tax system, and established a national bank

While the US was only 12 years old when Alexander Hamilton was tapped as the first secretary of the Treasury, it already owed almost $80M. With the country bringing in just $4.4M in taxes, that was not nearly enough to cover government operations and pay debts.

The Supreme Court ruled in February 2026 that Trump's emergency tariff powers didn't extend to imposing tariffs

In a 6-3 decision, the court held that the International Emergency Economic Powers Act—a 1977 law granting the president authority to regulate commerce during national emergencies—does not authorise the president to unilaterally impose tariffs, a power the Constitution reserves to Congress.

The US-led global debt settlement market is expected to expand from $4.8B in 2024 to $7.2B by 2032

While debt settlement companies aren't technically allowed to charge fees until after lowering a consumer's debt, a loophole in the Telemarketing Sales Rule (a mix of federal and state laws) gives predatory firms the opportunity to exploit consumers.

How US currency is issued

Cash in the US is the result of a collaborative process between the Federal Reserve, the Treasury Department, regional banks, and a little-known agency called the Bureau of Engraving and Printing. From design to issuance, learn the steps in currency production in the US with this smart, aesthetic interactive.

The platinum coin, explained by the creator of the idea

An obscure US Mint law permitting it to create platinum coins of any amount surfaced as a possible means of quickly paying down the national debt. Here's an explanation from the creator of the idea.

The first stablecoin pegged to the US dollar launched in 2014

That coin was Tether, also known as USDT. Other key dates in stablecoin history include Circle's launch of USDC in 2018, and, more recently, President Donald Trump's signing of the GENIUS Act in 2025.

Watch what happens if you commit tax evasion, from phone calls to property seizure

Tax Day is one of the most dreaded days for working Americans. The IRS responds differently to late filings and late payments. If you don't file at all, the IRS might freeze your assets.

In 2007, Bridgewater Associates warned of an impending financial crisis

Ray Dalio even presented his concerns to the US Treasury Secretary. In late 2025, Dalio warned of another recession, in line with models he created in his book "How Countries Go Broke: The Big Cycle."

Trump has extended TikTok's sale deadline three times

In 2024, US lawmakers passed a requirement for parent company ByteDance Ltd. to sell TikTok or face a ban in the country, which the company challenged in court. In early 2025, the law took effect, though President Trump paused it three separate times, affording the company more time to sell.

The US stores hundreds of millions of oil barrels in caves along the Texas-Louisiana coast

The US has a Strategic Petroleum Reserve that it taps into, releasing barrels into the economy, during times of emergency (think: major storms and wars) to try to stabilize markets.

Tariffs are typically paid by the importing company or organization to the US treasury

Tariffs levied on foreign countries are typically paid by the importer upon arrival of goods—for example, if Walmart imported a $100 pair of shoes, they would pay the US treasury an additional $15 under a 15% tariff rate. The degree to which these costs are passed onto consumers depends on real-world business agreements.

The 1997 Asian financial crisis tested the limits of the rules-based order's financial architecture

When a currency crisis hit Thailand, Indonesia, and South Korea, the IMF allocated $118B in emergency loans. However, the attached conditions were widely criticized for worsening the economic downturn and increasing distrust of Western-led institutions across the Global South.

Presidents have temporarily transferred power under the 25th Amendment during medical procedures

Section 3 of the 25th Amendment lets presidents temporarily transfer authority—without permanently giving up the office. Reagan, George W. Bush, and Biden each invoked it during medical procedures, briefly making their vice presidents acting president.

43% of Americans don't have savings to pay for a $1K emergency

That's according to data from January 2026 shared by US News. Among those who did have an emergency fund, the median balance was $5K.

The US dollar is the most widely circulated currency in the world, and is involved in nearly 90% of global transactions

The United States has had a tumultuous relationship with Cuba since its 1959 revolution, highlighted by a nuclear crisis and a decades-long trade embargo.

The idea for the Federal Reserve was conceived in secret in 1910—with bankers donning duck hunt gear for disguise while traveling to a remote country club on Georgia's Jekyll Island

The American Society of Civil Engineers' infrastructure report card gave the US a C in 2025, its highest grade since the project launched in 1998.

Calculate how much of your tax dollars go to each federal program based on your income, filing status, and number of children

Despite being favored by 87% of Americans, Congress does not have term limits.

Discover the catastrophic consequences of a failure of the US electrical grid—something that is more likely than many Americans think.

Experimental hantavirus vaccines and therapies, still under development, have long been funded by the US military.

Before the current East Wing ballroom project, only two White House renovations in the past 100 years cost more than $10M.

Some coin denominations have ridges etched on their sides, partly to prevent counterfeiting, in a practice called 'reeding.'

The first steps to rebuilding your credit score include getting to know exactly what's on your credit report and figuring out how far you are from the '700 club,' or 'good score' range.

Hedge funds, the private investment firms that trade a wide swath of financial assets, make money by imposing steep fees on investors and from the fund's investment performance.

Play the role of a student in a game where you try to navigate college and remain debt-free, selecting different income levels, high school experience, race, ethnicity, and more.

Watch the cumbersome, but necessary, precautions healthcare workers must take to care for and protect themselves while caring for Ebola patients.

Fireworks-related ER visits are on the rise—in 2024, they increased by 52% as compared to the prior year.

For centuries, Niagara Falls has been a magnet for daredevils seeking to conquer one of nature's most powerful wonders, with its 200-foot drop and water rushing at 32 feet per second with 280 tons of force.

A 2019 Facebook event called on attendees to "Storm Area 51, They Can't Stop All of Us," resulting in countless memes, the creation of a music festival, and eventually the arrests of those who did try to approach the area.

Researchers believe the brain consolidates memories, processes emotions, and plans for the future during dream states

Hurricanes, which rely on air consistently spinning in the same direction, cannot cross the equator because air curves in opposite directions north and south of it.

Massive 3D printers have been used to build homes by stacking layers of 'concrete toothpaste,' a fire-resistant material that effectively insulates against outside noise.

Apeirophobia is an overwhelming fear of living forever, perhaps stemming from the brain's inability to conceptualize an infinite life.

The Beatles' US label rejected the band's first two singles, 'Please Please Me' and 'From Me to You,' with one executive calling the band 'dead in the water.'

While atoms are normally made of protons, neutrons, and electrons, exotic ones have been built with antimatter—alternate versions of normal matter that live for fractions of a second and are about a billion times as rare.