Go Ad-Free
    My Alerts
    Moneycontrol
    Moneycontrol PRO
    HomeNewsOpinionThe recurring farce of a US debt default

    The recurring farce of a US debt default

    Wrangling about the debt ceiling is political grandstanding. While everyone expects a last minute settlement, it's worth remembering that a similar impasse in 2011 resulted in a ratings downgrade for the US and nervousness in the markets 

    Ajay Bagga
    May 18, 2023 / 08:18 IST
    The purpose of the debt ceiling is to impose a check on the government's borrowing power, ensuring fiscal responsibility, and preventing excessive debt accumulation.
    • PRO Panorama

      Moneycontrol Pro Panorama | The Great Energy Exodus: How AI Is Draining Capital from Big Oil

      Nov 3, 2025 / 03:03 PM IST

      In today’s edition of Pro Panorama: Auto sales in top gear, GAIL pumps it up, tax cloud over economic recovery, India’s Golden...

      Read Now
    Unlock This Article

    Are you a PRO subscriber? Sign In

    What Do You Get

    • Ad free Experience

      Seamless navigation, faster responses.

    • Expert Perspective

      Explore 230+ exclusive editorials every month

    • +

      Uncover Insights from World-Renowned Experts and Journalists

    • Actionable Insights

      40+ weekly investment ideas + 3 to 4 daily technical calls

    • Virtual Events

      Exclusive Live Webinars for Expert Trading & Investment Strategies!

    • Newsletters

      Stay ahead with daily and weekly insights

    View Offers

    Unlock exclusive discounts