Could the statutory debt limit rattle the markets?

SAN DIEGO (KUSI) – Brent Wilsey, President of Wilsey Asset Management, joined KUSI’s Jason Austell on Good Morning San Diego to have a discussion on the federal debt and the statutory debt limit.

The debt will be reset to the previous ceiling of $22 trillion today.

The statutory debt limit is the maximum amount of debt that can be issued to the public.

Contrary to popular belief, China only owns about $ 1.1 trillion of America’s debt, rather than a third, Wilsey explained.

Not to worry, Wilsey said, as there is no situation like Greece’s several years ago or a European debt problem.