This week President Obama signed a bill raising the nation's borrowing limit. That debt deal, however, failed to keep stock markets from dropping.
Anyone who has ever borrowed money can relate to the debate over raising America's borrowing limit.
The maximum borrowing limit of a petty consumer credit is temporarily set at RMB100,000.
The US risks default on its debt if Congress does not raise the borrowing limit before 2 August.
On Tuesday March 24th it announced increased borrowing limits on existing loan instruments.
The U.S. government will lose the ability to pay some of its bills on Tuesday if lawmakers do not increase its legal borrowing limit of $14.3 trillion, which it reached several months ago.
