Should Congress Abolish the Debt Ceiling?
Open to Debate
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The Negative Consequences of the Debt Ceiling
Every time we come close to the debt ceiling, it is an opportunity for Congress to incorporate new information about the state of the economy. The Federal Reserve has increased interest rates faster than most people in the economy thought possible. If we don't ever make any sustainable changes, you can look at the long-term path for debt, and you can see it exploding. We're heading for a debt crisis if not now, when?
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