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- Nov 8, 2006
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Back to the same lying nonsense. The budget has not already passed, but debt has accrued. Raising the debt ceiling only has the effect of allowing the government to borrow more money.
The treasury can only issue debt for spending approved by congress, so all debt raised was approved by congress. What this means is that congress indeed approved the spending for that debt, and are now refusing to say they will pay the debt for the money they borrowed and already spent.
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