What If the GOP Freezes the Debt Ceiling?

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What happens if the GOP succeeds in freezing our debt ceiling, the legal limit of the amount of debt the federal government can build up? Bad things, says Michael Linden, including

the immediate cessation of more than 40 percent of all federal government activities (excluding only interest payments on the national debt), including Social Security, military operations in Iraq and Afghanistan, homeland security, Medicare, and unemployment insurance. This would not only threaten the safety and economic security of all Americans, but also have dire impacts for the economy and job growth.

Read the full story at CAP.

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Derek Thompson is a senior editor at The Atlantic, where he writes about economics, labor markets, and the entertainment business.

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