What is the debt ceiling? What could happen if it's not raised? Here are answers to questions you may be asking about the debt limit and the fight over it. (via NPR)
Every vote a lawmaker casts is part of that person’s political record and many lawmakers do not want to be seen as signing off on more federal borrowing or spending.
In the past, votes to increase the debt limit were relatively quiet, non-controversial affairs. That changed in 2011 when the country came dangerously close to default. Obama insisted Congress raise the debt limit without any extraneous policies –known as a clean increase. “As a mathematical consequence of the laws Congress already passed, you have to borrow a certain amount,” Furman said. “This borrowing isn’t some unilateral thing that President Biden wants to do in order to do his favorite projects. It is in order to accomplish what Congress told him to accomplish.”
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