Debt Ceiling = Impending Doom?

Without changing the tax-cut policy, which does not match government spending cuts, the demand for raising the debt ceiling will automatically increase.

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Debt Panel Co-Chairman Bowles Seeks U.S. Spending Cuts Over Tax Increases

A co-chairman of President Barack Obama s debt commission said as much as three-quarters of the panels proposed savings ought to come through cuts to government spending rather than tax increases.

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Figures on government spending and debt

Figures on government spending and debt

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