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What I'd like to know is, if virtually the entire western world and third world are in debt up to their eyeballs, who did they lend the money from?
I.E. Not increasing the Debt ceiling would be essentially just enforcing that the government just balances the budget and spends within its means. The problem is that since a year and a half ago with the last increase in the debt ceiling, there has been little effort to curtail spending or increase revenue, and balance the budget.