Raising The Debt; Lowering The Boom
The big story this week is the decision of the US Congress and Senate to raise the debt ceiling. Did this really surprise anyone? Despite millions of pieces of communication from their constituents to the contrary, congressmen and senators voted by substantial margins to increase the debt ceiling by up to $2.4 trillion. The House vote was 269 to 161. The Senate vote was 74 to 26. Coincidentally, the amount of this increase to the debt ceiling is now the largest debt-limit increase in US history........
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