The US Debt Ceiling Debacle Is Not Over
The latest last-minute deal to raise the US debt limit does not solve the underlying political problem. On the contrary, with the country on track for a Biden-Trump rematch next year – a contest that Trump just might win – the truce is likely to be short-lived.
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CAMBRIDGE – The tentative deal that was just struck to raise the United States’ debt ceiling won’t make the problem go away. Partisan standoffs over the federal debt limit have become a predictable feature of American political life. And while some blame an ill-conceived rule, that argument misses the point.