…But economists at the department also say that attempts to portray the need to tackle the debt ceiling as an effort to pay for Democrats' budget resolutions that are yet to pass Congress amount to disinformation, according to sources familiar with the mechanism.
The criticism comes primarily because the overriding reason for raising the debt ceiling stems from the fact that the US needs to borrow new money to pay the principal and interest on around $8tn of debt incurred over the course of the Trump administration…
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