The US Debt Ceiling Quiz
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Questions and Answers

Which branch of the US government is responsible for approving the raising of the debt ceiling?

  • The Executive Branch
  • The Financial Branch
  • The Legislative Branch (correct)
  • The Judicial Branch
  • What would have happened if the debt ceiling was not raised?

  • A decrease in mortgage costs
  • A government shutdown
  • An economic collapse (correct)
  • An increase in government borrowing
  • What was the outcome of the negotiations between Democrats and Republicans in Congress?

  • A default on dues
  • A political settlement (correct)
  • An economic catastrophe
  • A government shutdown
  • True or false: President Joe Biden recently signed a law to raise the debt ceiling in the United States?

    <p>True</p> Signup and view all the answers

    True or false: The approval of raising the debt ceiling in Congress spared the United States from an economic collapse?

    <p>True</p> Signup and view all the answers

    True or false: The bill to raise the debt ceiling was approved first by the Senate, then the House of Representatives?

    <p>False</p> Signup and view all the answers

    True or false: The agreement to raise the debt ceiling represents a major victory for the economy and the American people?

    <p>True</p> Signup and view all the answers

    True or false: The negotiations to raise the debt ceiling were concluded just four days before the deadline set by the Treasury Department?

    <p>True</p> Signup and view all the answers

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