Deal to Raise Debt Ceiling Passes in Congress
Ask Students: How does the debt ceiling limit how much money the federal government can spend? What are some of the ways this bill seeks to lower federal debt?
President Joe Biden meets with Senate Majority Leader Chuck Schumer (D-NY), Minority Leader Mitch McConnell (R-KY), House Speaker Kevin McCarthy (R-CA) and House Minority Leader Hakeem Jeffries (D-NY) to discuss the debt ceiling, Tuesday, May 9, 2023, in the Oval Office of the White House. Photo credit: Adam Schultz
June 2, 2023
Ask Students: How does the debt ceiling limit how much money the federal government can spend? What are some of the ways this bill seeks to lower federal debt?
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The deal to raise the federal debt ceiling passed in Congress Thursday night, ahead of the government’s borrowing authority maxing out next week. Congressional Correspondent Lisa Desjardins reports. (Note: This segment aired hours before the Senate passed the debt ceiling bill.)
For a transcript of this story, click here.
What are some of the ways this debt ceiling bill seeks to save money, and what are some parts of the bill that aren’t about saving money at all? Do you think these elements of the bill will be helpful or harmful?
Media Literacy: Why do you think this piece focuses so much on the politics of the bill and not as much the content of the bill?
What is the national debt and why is it important? As a class, read this explainer from the U.S. Treasury on debt and deficit, and then discuss as a class — what are the long-term consequences of federal debt? How do you think Congress should manage this debt?
Republished with permission from PBS NewsHour Classroom.