Story of America on debt ceiling

Story of America on debt ceiling : 

Story of America on debt ceiling http://fellowshipofminds.files.wordpress.com/2011/08/liberty-in-tears.gif

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It is the maximum borrowing power of a governmental entity of a country. It’s a debt limit beyond which a government cannot increase the debt further without raising the debt ceiling or the increasing the limit to borrow more money. What is debt ceiling? http://img.ibtimes.com/www/data/images/full/2011/08/02/142310-financial-crisis-u-s-debt-ceiling-in-pictures.jpg

Slide 3: 

The debt ceiling of U.S.A. is impacting its economy in 2011. http://www.hurriyet dailynews.com/images/2011_07_25/us-debt-ceiling-brinkmanship-rattles-investors-around-globe-2011-07-25_l.jpg

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The current capacity of government to borrow money is $14.3 trillion. If President Obama’s Congress cannot increase the borrowing capacity, the country can face harsh consequences. http://senatorteaparty.com/wp-content/plugins/rss-poster/cache/79f50_ap_national_debt_dm_110513_wg.jpg

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Failing to raise the debt limit on time would culminate in the federal deficit even bigger and damage the economy. http://crisisboom.fi les.wordpress.com/2011/01/deficit-crisisboom.jpg

What happens if the debt ceiling isn't raised?: 

What happens if the debt ceiling isn't raised ? http://markhalperin.files.wordpress.com/2010/12/moneycash.jpg?w=590&h=386&crop=1

Slide 7: 

If the borrowing capacity is not increased, the Treasury cannot auction new Treasury notes. http://nrzresources.com/wp-content/uploads/2011/06/jpg_groupe_doux_finance2-3-2-1.jpg

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It may become unclear to decide on which bills to be paid and which to be delayed. http://www.visualphotos.com/photo/2x3612765/a_pile_of_various_types_of_money_bills_1801986.jpg

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The employees receiving Social Security, Medicare, and Medicaid payments would go without. Federal buildings and services would close. http://www.wisdomtimes.com/wp-content/uploads/2011/08/Life_Insurance.jpg

Slide 10: 

It could make the foreigners dump their holdings and cause the dollar to plunge. The fall in the value of dollar may cause removing its status as the world’s reserve currency. http://cache2.artprintimages.com/p/LRG/32/3275/JDE5F00Z/art-print/crumpled-american-dollar-bill-on-red-graph-of-economic-loss.jpg

The U.S. government should adopt a more conservative fiscal policy before the debt ceiling needs to be raised.: 

The U.S. government should adopt a more conservative fiscal policy before the debt ceiling needs to be raised. http://me dia.ft.com/cms/cd a3af94-935d-11df-bb9a-00144feab49a.gif