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The Debt Ceiling: A spending safeguard or a political bargaining chip?
May 14, 2025
Most economists agree that if the U.S. were to ever reach the debt ceiling, the consequences would be catastrophic. While the U.S. continually wrestles with this borrowing cap, most other nations take a different approach, instead measuring debt relative to economic output to ensure a balanced budget. So, is keeping the debt ceiling a good idea?