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Following the two most serious debt ceiling crises in US history in 2011 and 2013, the debt ceiling was triggered again in 2023, causing widespread international concern over the prospects of the US economy and the world economy. Indeed, once the United States, as the world's largest economy, defaults on its debts, it will not only lose its own credit, but also may trigger a global financial tsunami, and the impact on the United States and the world economy cannot be underestimated. Trust the US government not to play games with its credit and economy. As U.S. Treasury Secretary Janet Yellen has said, the U.S. has "no reason to create a crisis of its own making."

National debt ceiling is a debt limit issuance system with American characteristics. It is the maximum amount of debt raised by the US Congress for the federal government to fulfill the payment obligations that have been generated. The purpose is to prevent the government from issuing national debt at will and resulting in "insolvency". Once the federal government hits that "red line," it means the Treasury runs out of borrowing authority and has no authority to issue new debt. The government would run out of money to spend and default on its debt and interest payments.

Raising the debt ceiling has long been a habit in the United States, since modest fiscal deficits increase government spending and market liquidity, stimulating economic growth. From historical experience, since the national debt ceiling was passed by the United States Congress in 1917, all the debt defaults were "close to nothing", passed or implemented tentatively at the last minute or pressure line. According to statistics, since 1960, the US Congress has raised or suspended the debt ceiling nearly 80 times, and the debt ceiling has also been raised by about 105 times from the original 300 billion dollars to the current 31.4 trillion dollars. On this basis, we predict that the US debt crisis will turn a corner at the last critical point and finally "turn the crisis around".

Now that America's debt ceiling will eventually be "passed", why are there so many "crises"? This is because, as the US government borrows more and more and US politics becomes more polarized, the debt ceiling debate has increasingly become an important bargaining chip in the political game between the two parties in the US Congress, with each side constantly testing the other's bottom line and grabbing more political benefits. Democrats and Republicans agreed to raise the debt ceiling on the premise that raising the government's borrowing limit would be accompanied by a commitment to substantially reduce future deficits.