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The Debt Ceiling

So much media coverage of the U.S. debt ceiling deals only with politics. Jerry Lynch, Krannert School of Management Professor of Economics, recently sat for an interview to explain - purely in economic terms - what the debt ceiling is and what it might mean for you.

What is the debt ceiling and what does it mean?

Debt or deficit? What's the difference? Is China lending us money and will the Fed help or hurt?

Bonds, credit ratings and hyperinflation. What are the potential threats and negatives?

Why doesn't the government have to balance its checkbook just like my household?