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Newsy

Debt ceiling discussions mirror 2011 crisis

Newsy ·
Newsy
Newsy

When Republicans in Congress refused to raise the debt ceiling in 2011, the government risked a catastrophic default and suffered a devastating credit downgrade. Lessons learned from the debt ceiling standoff more than a decade ago are rippling through Washington, as the White House and Congress brace for another fiscal showdown one that appears headed toward a very similar outcome.