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General view of the US Department of the Treasury in Washington, DC.

Graeme Sloan/Sipa USA via Reuters Connect

US debt ceiling looms over a House divided

The US government surpassed its debt ceiling early Thursday, prompting the US Treasury Department to implement a series of temporary emergency measures to avoid a US government default. What does this mean and why does it matter?

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Paige Fusco, with image by DonkeyHotey

US debt hits record: Should you worry?

Earlier this week, US gross national debt hit a new high, clocking $31 trillion. Gasp! That’s almost twice what it was a decade ago, and debt is now equal to well over 100% of GDP, hovering at the highest levels since World War II.

Is steadily rising US debt a problem, or is the risk of a financial meltdown overblown? Here’s a quick guide to the debate over debt.

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