The U.S. Debt Ceiling Expired on March 1 and Nobody Cared – But They Will

Markets didn’t move and the holders of the $22 trillion in national debt didn’t utter a peep of worry that the U.S. government wouldn’t pay its interest or redeem its bonds. When the limit is reached, the U.S. Treasury can’t borrow any more, which one would think would cause a crisis of confidence, severely impacting the real economy for fear the government would default on our debt. In December we endured a government shutdown and after 6 weeks Congress and the President agreed to a budget bill that included paying its debt.

Source: www.forbes.com