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User Name | Thread Name | Subject | Posted |
GUEST,Rev Bayes | BS: debt limit. can nybody explain why (72* d) | RE: BS: debt limit. can nybody explain why | 12 Jan 13 |
To actually answer the OP's question, the reason is that until 1917, the US Congress approved debt issues case by case. Under pressure of work, they dropped this in 1917 in favour of a blanket authority to raise debt up to a certain limit. |