The debt ceiling won't authorize new spending, but failing to increase it when needed would cause the U.S. Government to default on its obligations.
Elizabeth Warren: “The debt ceiling won't authorize new spending, but failing to increase it when needed would cause the U.S. Government to…”
On the recordMarch 6, 2023
Source
congress.govEditor's note · Context
Warren emphasizes the importance of raising the debt ceiling to avoid a government default.
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