Quote:
Originally Posted by garce
Then you've read nothing, because the debt ceiling was raised five times under President Bush alone. Its been raised 78 times since 1960.
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You do understand that there is a difference between hitting the debt ceiling and default, right?
In any case, what I said was, I did not know, the economic news I read has not said anything I recall about 3 instances of near default.
If they did, I'm not sure what difference that would make, altho I would grant that it was an indication that the american congress is incompetent.
It could be true, but I do not know it to be true.
I do however know the difference between hitting the debt ceiling and default.