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Thursday, January 21, 2010

Senate Prepares to Raise Debt Limit

“Senate Democrats proposed Wednesday to increase the nation’s debt limit by a record $1.9 trillion, but were scrambling to line up the votes for the increase, which would authorize the Treasury to borrow enough money to cover the government’s bills through the rest of the year.” (Washington Post, Thursday)

What’s the point of a limit that can be raised anytime?

FEE Timely Classic
“Our Presidents and the National Debt” by Burton W. Folsom Jr.