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Lessons From the Obama Debt Ceiling Crisis

Politics Politics Politics

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The End of the Obama Administration

On January 14, 2014, the House and Senate Appropriations Committee agreed on a two-year spending plan to fund the federal government. They also passed a bill extending the previous Continuing Resolution until January 18. Subsequently, Congress passed a $1.1 trillion appropriations bill that funded the government until October of that year. On February, the debt limit suspension expired. The Treasury began implementing something I think you might wind up hearing more of this phrase. Extraordinary measures are what happens after you pass the drop-dead limit.

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