Skip to main content

What is a debt default? And the debt ceiling?



To default on a debt is to fail to make a scheduled payment on a loan. A sovereign debt default is when a country defaults on money it owes - as happened to Argentina in the early 1990s, for example.

What is the 'debt ceiling'?


The above video describes the political dimension of the debt ceiling. The US debt now stands at $21 trillion - see debt clock here

Some economists argue that this debt level is unsustainable in the long term. The key question Democrats and Republicans battle over is what to do about this.



Comments

  1. There lies the strength and weakness of the EU: whatever they do, all members feel the consequences. I'm glad I wouldn't have to deal with this headache of a financial problem. For my personal loans, I have my loan modification attorney for support.

    ReplyDelete
  2. Even as a working professional, I can feel the financial crunch. I'm having a hard time getting loans and paying off my IT contractor mortgages. I think things are definitely looking up, though.

    ReplyDelete
  3. One way to relieve your company of your financial problem is to file for bankruptcy. However, it does not work for all situations. You may want to consult a bankruptcy lawyer Las Vegas first.

    ReplyDelete
  4. During times like this, the best and worst surface. Some who look to refinance mortgage leads, for example, are proof of the good.

    ReplyDelete
    Replies
    1. Becoming more financially aware is the solution to most financial problems.

      Delete
  5. I agree with the last commenter. Problems can be avoided if we are all aware of our financial activities. One way to be prepared is to check Long Island mortgage rates first before acquiring a loan or even owning a house.

    ReplyDelete

Post a Comment

Popular posts from this blog

Top 10 most quoted lines of poetry in English?

Mark Forsyth (The Inky Fool) has analysed Google Search query result data for lines of verse requested online. Here is the Top Ten:

Why is English not the official language of England?

58 countries list English as an official language - but not the UK. The world's lingua franca or second language is not, technically, the 'official' language of its birthplace. The de factoofficiallanguage of the United Kingdom is English,[3][4] which is spoken by approximately 59.8 million residents, or 98% of the population, over the age of three.[1][2][10][11][12] An estimated 700,000 people speak Welsh in the UK,[13] an official language in Wales

What is the origin of the word alphabet?