Vital Signs. Laugh at the US if you will, but Australia narrowly escaped a debt ceiling

Written by The Conversation

The United States government is scheduled to hit its “debt ceiling” of US$28.4 trillion on or around October 18.

The US debt ceiling isn’t like the limit on a credit card, which is imposed by the lender worried about the borrower’s ability to make payments.

Instead, it’s a form of self-delusion: a limit imposed by the...

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