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by an4rchy 2587 days ago
It's interesting that there's no legal consequences, for the politicians, to raise the debt ceiling.

Is this the same in other countries as well?

1 comments

Are there other countries with a US-like debt ceiling? Australia had one between 2007 and 2013 (https://en.wikipedia.org/wiki/Australian_government_debt#Deb...) and the EU stability and growth pact (https://en.m.wikipedia.org/wiki/Stability_and_Growth_Pact) limits debt to 60% of GDP, but its measures are a lot drastic than what the US does, and its limit was softened in 2005 (https://en.wikipedia.org/wiki/Stability_and_Growth_Pact#Refo...)