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The Conversation USA

Explainer: what's the debt ceiling and why it's an obsolete way to control spending

  • Written by The Conversation Contributor
imageSometimes it's not a good thing to have a roof over our heads. Dollar ceiling via www.shutterstock.com

The US is once again on the precipice of default on its national debt – not because of a fundamental inability to generate and collect tax revenues (a la Greece), but because of political shenanigans over the country’s debt ceiling.

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Read more: Explainer: what's the debt ceiling and why it's an obsolete way to control spending

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