What the debt ceiling is and why it's being debated

A debate over the debt ceiling is at the center of a dispute over funding that is pushing the possibility of a federal government shutdown to the brink in Washington. President-elect Donald Trump has proposed that raising the nation’s debt limit be part of ongoing efforts to avert a government shutdown, saying in a statement Wednesday, “Anything else is a betrayal of our country.” Congress voted last year to suspend the nation's debt limit through Jan. 1, 2025. If the ceiling isn't raised, the government would go into default on its debts. That's an unprecedented situation, and is something Treasury Secretary Janet Yellen and economic experts have said could be “catastrophic.”