Submitted by 00derek t3_10i05as in dataisbeautiful
urban_snowshoer t1_j5biovf wrote
You want to talk about how to cut expenses, raise revenue, or both to reduce the debt fine but that's a seperate dicussion from the debt-ceiling.
The debt ceiling pertains to spending already incurred--paying your credit card bill in a sense--and it should go without saying that not paying your liabilities results in a default.
Unless the party in power wants the U.S. to default, of course they're going to increase the debt-ceiling.
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