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RobSmith

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RobSmith

→‎See also

Aschlafly

OBBB signed into law on July 4

Aschlafly

add quote from today's news

Aschlafly

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Aschlafly

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Aschlafly

The U.S. is in a rapidly worsening debt spiral, whereby large new debt is used to repay old debt

Aschlafly

The One Big Beautiful Bill Act, passed by Congress on July 3, 2025, increased the debt ceiling by another $5 trillion to $41 trillion, which is roughly 75% the value of the entire stock market.

Quidam65

→‎Components of the debt

Aschlafly

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Aschlafly

This way congressmen avoided approving a $5 trillion increase in the debt in merely 18 months.

Aschlafly

→‎See also

Aschlafly

improved

Aschlafly

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Aschlafly

Then, on May 26, 2023, she magically extended this Chicken Little deadline.

DavidB4-bot

Spelling, grammar, and general cleanup, typos fixed: U.S → U.S. (2), Commission → commission, ’s → 's (2), 217-215 → 217–215

Aschlafly

On May 1, 2023, Treasury Secretary Janet Yellen declared a deadline of June 1, 2023, to increase the debt ceiling or else the federal government would default on its obligations.

Aschlafly

→‎2023: key elements of GOP bill

Aschlafly

→‎2023: The vote was 217-215, with every Dem voting against this.

Aschlafly

→‎Unsustainability of Obama deficits: comparing 2023 to 2011

Aschlafly

→‎2023

Aschlafly

→‎Liberal hysteria

Aschlafly

House conservatives support Speaker Kevin McCarthy's stance taken in his February 1, 2023, meeting at the White House with President Biden: no increase in the debt ceiling unless there is an agreement to reduce federal spending.

Aschlafly

which was set at that level when Congress increased it by $2.5 trillion as signed into law by President Joe Biden on Dec. 16, 2021.

Aschlafly

→‎Components of the debt: Foreign governments, especially communist China, liberal institutional investors, insurance companies, and domestic governmental entities hold the vast majority of the US debt. Very little of it is owned by grassroots

Aschlafly

On Jan. 19, 2023, the [U.S. Treasury]] "reached the debt limit of $31.4 trillion." the stock market rocketed much higher the following day as conservatives stood strong against wasteful government spending.

DavidB4-bot

→‎History of the debt limit: HTTP --> HTTPS [#1], replaced: http://www.senate.gov → https://www.senate.gov

DavidB4-bot

→‎History of the debt limit: Spelling/Grammar Check, typos fixed: 1900's → 1900s

DavidB4-bot

clean up & uniformity

JDano

clean up

TheAmericanRedoubt

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TheAmericanRedoubt

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VargasMilan

→‎History of the debt limit: + dollar signs

VargasMilan

→‎History of the debt limit: + spacing

VargasMilan

→‎History of the debt limit: + spacing

VargasMilan

→‎History of the debt limit: clarified time period: "Date" rather than "Year".

VargasMilan

→‎History of the debt limit: truncated trailing zeros

VargasMilan

→‎History of the debt limit: + spacing

VargasMilan

→‎History of the debt limit: right-aligned dollar figures

VargasMilan

→‎Obama debt ceiling crisis: updated section to today.

VargasMilan

→‎History of the debt limit: updated debt limit

OscarO

→‎History of the debt limit: See also

OscarO

→‎Unsustainability of Obama deficits: typo

OscarO

→‎Unsustainability of Obama deficits: rmv past tense

Toadaron

more info

Score1952

no edit summary

JohnMcL

→‎Obama debt ceiling crisis

Toadaron

→‎Components of the debt: Intra-wiki linking

MRellek

Removal of unsourced comment with no purpose in article. Redirect also does not make "playing the victim" mindset apparent.

RobSmith

→‎Background to Obama debt crisis: fmt