Erie News Now published a report, claiming that House Minority Leader Kevin McCarthy is pressing President Biden to negotiate an agreement with Republicans on the debt ceiling.
According to the article, the debt ceiling has been an issue for decades and that the current impasse is due to a lack of compromise between both parties.
However, the report sparked controversy which promoted DBunk to conduct a fact-check analysis of the information written therein as part of its objectives to provide readers with accurate and up-to-date information.
The fact-check analysis revealed that the history of the debt ceiling is not accurately represented. The debt ceiling has actually been an issue since the early 20th century and has been raised more than 80 times since 1940. This means that the current impasse is not due to a lack of compromise between both parties, but rather a disagreement on how to handle the increasing national debt.
The analysis also discovered that the article failed to mention the potential consequences of not raising the debt ceiling. If Congress does not raise the debt ceiling, the government would be unable to borrow money to fund its operations, leading to a potential government shutdown.
Furthermore, DBunk warned the information like this could have severe economic repercussions, including a decrease in consumer spending, a decrease in investment, and an increase in unemployment.
Given the inaccuracies in the article and the potential consequences of not raising the debt ceiling, it is important that readers understand the full story. To learn more about our fact-check analysis, readers can download DBunk mobile app, available on the App and Google Play store by clicking this link, https://dbunk.com/pre-order.
