The Debt Ceiling: Uniquely American Bullsh*t

The video explains the concept of the debt ceiling, its historical origins, and its evolution into a political tool. It highlights key instances where the debt ceiling was used for political leverage, particularly during the Obama and Trump administrations. The current crisis is discussed, with the U.S. nearing default due to political gridlock. The video concludes by comparing the U.S. debt ceiling situation with other countries, noting the unique challenges posed by the requirement for a supermajority to pass legislation.

What are the potential consequences of defaulting on the debt ceiling?

In what ways is the United States unique regarding its debt ceiling compared to other countries?