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Congress is once again considering raising the debt limit. When did that start?
The Fed could buy defaulted Treasuries or swap Treasury bonds that weren’t in default for those that were.
The economy would be in uncharted — and dangerous — territory.
If Congress fails to raise or suspend the debt limit, it won’t cause a government shutdown. But it could mean a failure to pay Social Security benefits and federal salaries.
A higher debt limit does not mean funding more government programs. It is paying for the bills already due.
Congress had to pass a budget bill to avoid a shutdown this week. It also had to lift the debt limit or risk the government running out of money in March. So lawmakers packaged the bills. But they aren’t just doubling up on legislation, they’re doubling down on the national debt. Click the audio […]
Linking the two could make raising the debt limit more palatable to Congress, but it puts off a painful conversation about spending cuts.