Debt ceiling in the USA - over 70 increases since 1970

The current debt ceiling in the USA is 31.4 trillion US dollars. This was set by the US Congress in December 2021. This limit was reached on 19.01.2023. US politicians are now arguing about raising it again. Treasury Secretary Yellen has warned that the USA could face insolvency at the beginning of June. Important: The debt limit has its origins in 1917 (Second Liberty Bond Act). The discussion is therefore over 100 years old. Since 1970, the debt ceiling has been raised over 70 times. Between 2015 and 2021, the debt ceiling was even suspended time and again. Raising it regularly causes nervousness and panic. In the end, however, a solution was always found.