The law that caps federal borrowing must be raised asap. Here's what happens if it's not.
Treasury would be left unable to borrow if Congress doesn't raise the debt ceiling. The result: Someone wouldn't get what Uncle Sam owes them - either in full or on time.
At the end of July 2013, foreign holders of U.S. Treasury securities totaled close to $5.6 trillion.
|Donald Trump doubles down on 35% tax for businesses that ship jobs out of U.S.|
|China warns Trump: Good luck bringing jobs back to America|
|American Airlines flight attendants want new uniforms recalled|
|Netflix now lets you watch your favorite shows offline|
|Donald Trump bashes 'SNL' on Twitter after sketch about him tweeting too much|