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  3. 1) what is the debt limit and why do we have one?

1) What is the debt limit and why do we have one? 2) Does raising the...

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Economics

1) What is the debt limit and why do we have one?

2) Does raising the debt limit allow the government to spendmore money?

3) What happens when the Treasury hits the debt ceiling?

4) Why is raising the debt ceiling so controversial?

5) What happens if congress doesn't act?

6) What are the dangers of rising national debt?

7) Has the debt ceiling ever been reduced?

8) Should Congress keep expanding the debt ceiling? Why/whynot?

Answer & Explanation Solved by verified expert
4.2 Ratings (873 Votes)
1 The debt limit is the total amount of money that the United States government is authorized to borrow to meet its existing legal obligations including Social Security and Medicare benefits military salaries interest on the national debt    See Answer
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