BBCNEWS BBC News September 23, 2021 20:20:00
Money the us federal government can borrow. that legal limit has been in place since 1917 and has been raised over 100 times normally on a bipartisan vote. the debt ceiling is not raised to cover new spending — it is raised to cover debts that have already been run up. and so they are voting in a sense to honour the cheques that donald trump had written. it is money already spent. and yet the republicans say they won't vote for it. so there is a risk that america could default on its debts. i'm joined now by ron christie, in washington, and amanda renteria in california. in washington, and a...