has been thrown into doubt following the trade court ruling.
long-desired reformsto the judiciary — including the imposition of mandatory elections.
But the changes required a constitutional amendment. Still, Lopez Obrador was head of the Morena party, the most powerful force in contemporary Mexican politics.Wielding his sway, he was able to secure the backing of both the Senate and the majority of Mexico's states, allowing the reforms to become law.“That’s when this bidding war began,” Arias said of the elections.
'Rushed' preparationFrom the beginning, the reforms were controversial. Thousands of court workers
to protest the constitutional amendment. Some protesters even
stormed the Senate buildingDebt is simply the total amount of money the US government owes to its lenders, currently amounting to $36.2 trillion. This represents 122 percent of the country’s annual economic output or gross domestic product (GDP), and it is growing by about $1 trillion every three months.
The highest debt-to-GDP ratio was during the pandemic in 2020, when the ratio hit 133 percent. The US is among the top 10 countries in the world with the highest debt-to-GDP ratio.What is the debt ceiling, and why does it keep increasing?
When the government spends more money than it collects, it creates a deficit.To cover this deficit, the government borrows more money. To ensure that borrowing is subject to legislative approval, the US Congress sets a limit to how much the government can borrow to fund existing obligations like Social Security, healthcare and defence. This limit is known as the debt ceiling.