The Debt Ceiling Explained: American Government Review

The video tutorial explains the national debt crisis, its historical context, and constitutional basis. It covers the mechanics of debt, including the role of Congress in borrowing and spending. The tutorial discusses political maneuvers like the Gephardt rule and recent debt ceiling crises, highlighting their economic impacts. The current situation is analyzed, with potential outcomes of ongoing negotiations. The video concludes with a call to action for viewers to subscribe and learn more.

What is the national debt primarily composed of?

• Profits from government-owned businesses

• Accumulated deficits over the years

• Money borrowed from other countries

• Taxes collected from citizens

Which section of the Constitution gives Congress the power to borrow money?

• Article One, Section 8

• Article Two, Section 3

• Article Four, Section 2

• Article Three, Section 5

What was the purpose of the 1974 Budget Impoundment Control Act?

• To increase the power of the executive branch

• To give more control over the budget and checks and balances

• To eliminate the national debt

• To reduce taxes for the wealthy

What was the Gephardt Rule designed to do?

• Automatically increase the debt ceiling with a passed budget

• Prevent any increase in the national debt

• Reduce government spending

• Eliminate budget negotiations

What significant change occurred during the Republican Revolution in 1995?

• The elimination of the Gephardt Rule

• An increase in taxes for the wealthy

• The introduction of the Gephardt Rule

• A decrease in the national debt

What was a consequence of the 2011 debt ceiling crisis?

• An increase in taxes

• An increase in the national debt

• A decrease in government spending

• A credit downgrade for the United States

What does the 14th Amendment say about public debt?

• It should be paid off immediately

• Its validity shall not be questioned

• It should be reduced annually

• It can be increased by the President