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The debt ceiling’s threat to America

Explain It to Me

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The Debt Sealing Structure Tells a Story

When things get easier, they are more likely to do them. The debt sealing structure was created because there was a lot of war time spending. But once that was in place, it became a lot easier to run up debt in feast time. It tells the story of a congress that is very innovative in terms of getting itself out of taking tough votes, but extremely reticent to actually do anything and take those tough votes.

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