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The US Debt Ceiling Crisis Explained in plain English

While a deal to avoid defaulting on the US's debt passed the House and the Senate - learn why there is a debt ceiling in the first place (it's over 100 years old), and how it's now been weaponized into a tool it was never intended to be. In this video, we take a deep dive into the never ending issue of the United States debt ceiling. If you've been hearing a lot about the U.S. debt crisis and wondering what it all means, this is your go-to resource. From understanding the difference between deficit and debt to exploring the implications of a potential default on the global economy, we cover it all. My name is Preet, and I'm a consultant to the wealth management industry, and I specialize in distilling complex financial matters down to eye-level. Here's what you'll learn: 1️⃣ What's happening with the US Debt Ceiling right now? 2️⃣ What is a debt ceiling and why does it matter? 3️⃣ The history of the US debt ceiling - from World War I to today 4️⃣ Political standoffs that have threatened the ability of the US to make payments on its debt 5️⃣ What could happen if the US defaulted on its debt? 💡 Get ready to gain insights that can help you better understand the financial world around us. If you want to be financially savvy, this video is a must-watch! 🔔 Don't forget to SUBSCRIBE and hit the NOTIFICATION bell to never miss my latest videos. 👍 And if you find this video valuable, please give it a LIKE, and SHARE it with your friends, family, and colleagues. 🔖 Keywords: #USDebtCeiling #DebtCrisis #GlobalRecession #USDebt #FinancialLiteracy #MoneyManagement WATCH MORE OF MY MOST POPULAR VIDEOS: When does renting make more sense than buying a home?:    • Renting versus Buying a home | Which ...   How to calculate your Net Worth:    • How to Calculate Your Net Worth   How to find more money to save:    • How To Find Money To Save Without Kil...   My podcast about "Mostly Money" things: https://www.buzzsprout.com/5821 ABOUT ME: I've hosted a personal finance TV show on the Oprah Winfrey Network, used to be a stockbroker, went to school to become a racecar driver (failed), founded a fintech company that provides financial planning software to financial advisors who want to help more people who don't have lots of money, and I consult with wealth management companies on commercializing applications of behavioral finance. I'm also quite fond of donuts. SUBSCRIBE FOR MORE VIDEOS LIKE THIS: http://www.youtube.com/user/preet182?... MY BOOK TO LEARN ABOUT THE BASICS OF PERSONAL FINANCE: https://www.amazon.ca/gp/product/0143... FOLLOW ME ON TWITTER   / preetbanerjee   WEBSITE: http://www.preetbanerjee.com #MoneySchool #PersonalFinance #LearnAboutMoney #LearnToInvest #money #stockmarket #finance #howtoinvest #budgeting #budget #savemoney #insurance #financialplanning