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There's A Debt Ceiling Agreement ... For Now
FiveThirtyEight Politics
The Cost of Cutting Spending
Moody's Analytics did an analysis of the Republican bill as it originally passed. And that would have had an impact on the economy too, cutting spending to the severe degree that they originally wanted. So that cutting spending also has a cost in addition to any potential effect it might have on the deficit. Nobody wants their taxes to go up and nobody want their programs to be cut, but they also don't like that the country's in debt.
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