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Author
Publisher
Oxford University Press, USA
Pub. Date
2013
Language
English
Description
"The debt-ceiling debacle of 2011 was clear evidence of the dangerous polarization of American politics. Heedless of the warnings of economists, a majority of Republicans in the House refused to allow the Treasury to borrow enough money to pay for spending already ordered by Congress. The government avoided a catastrophic default only by unprecedented legislative contortions. The debt ceiling fight also showed that the two parties simply don't understand...