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senate Bill S. 1569

Raising The Debt Limit

Argument in favor

Failing to raise the debt limit won’t just impact crucial services — it could cause the nation to default on its debts, triggering a collapse in the financial market as well as a recession, or even a depression, in the global economy.

Argument opposed

Why have a debt limit — much less constantly worry about raising it — when Congress already approves all borrowing by the federal government? Numerous countries get by without a debt limit, why is the U.S. still burdened with one?

bill Progress

  • Not enacted
    The President has not signed this bill
  • The house has not voted
  • The senate has not voted
    IntroducedOctober 8th, 2013

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