At the Capitol Hill, Washington on October,1.2015, The Treasury Department stated on Thursday that the U.S. will reach the $18.1 trillion debt limit as soon as Nov. 5. The government would run out of borrowed money and be forced into default.
The Congressional Budget Office, which had said the government would run out of money by November or early December was corrected on Thursday by Treasury Secretary
Jack Lew who told the Congress that September's tax receipts and required payments to military pension trust funds "were higher than projected".
This is important for us to know because not only do the Treasury & Congressional Departments should be worried but so should the rest of us citizens. This debt can be a trouble cause for us or even an American crisis. I mean $18.1 trillion. we are debating about minimum wages from $9 to $10 while we don't even know how our U.S bank is doing. I think we should help out a little bit because some of that money helps us with little thinks or even big things like for those who save us "Our Army'.
USA TODAY,. 'Congress Now Has Five Weeks To Raise Debt Limit Before U.S. Defaults'. N.p., 2015. Web. 2 Oct. 2015.