The Biden debt ceiling refers to the legal limit on the amount of debt that the United States government is authorized to borrow. The debt ceiling is set by Congress and must be raised periodically to avoid a government shutdown.
Raising the debt ceiling is important because it allows the government to continue to pay its obligations, such as Social Security benefits, Medicare payments, and military salaries. Failure to raise the debt ceiling could lead to a government shutdown, which would have severe consequences for the economy.