Debt and Dysfunction in America
The latest debt-ceiling drama playing out in Washington is more worrying than usual. Even if President Joe Biden and congressional Republicans come to terms, the economic and financial damage could be severe, especially if the world loses patience with a US political system that appears to lack adequate guardrails.
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WASHINGTON, DC – Is American politics so dysfunctional that the United States government can’t even pay its bills on time? That is the central question behind the latest debt-ceiling drama playing out in Washington. So far, efforts to increase the country’s borrowing limit suggest the answer could very well be yes.