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What Happens If the Debt Ceiling Isn't Increased?
Washington,
July 18, 2011
The number one goal of the debt ceiling negotiations is to make sure the United States meets its future financial obligations by having cuts that exceed the increase in the debt limit. If Congress and Washington can’t agree on cutting and capping federal spending, it’s estimated the federal government will have to reduce spending by 44 percent, according to a study by the Bipartisan Policy Center. |