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With the debt limit deadline approaching, Biden and McCarthy are close to agreeing a deal to once again raise the ceiling and avoid a global financial catastrophe. So what exactly is the debt ceiling? And is this all just a dumb game of political chicken?

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00:00 Introduction
01:18 History of the Debt Ceiling
02:36 The Debt Ceiling Today
05:12 Should the US Get Rid of it?

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