Why do we have a debt ceiling anyway?

How a legislative fluke turned into a political weapon

Congress' looming debate.
(Image credit: Illustrated | Image courtesy iStock)

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Paul Waldman

Paul Waldman is a senior writer with The American Prospect magazine and a blogger for The Washington Post. His writing has appeared in dozens of newspapers, magazines, and web sites, and he is the author or co-author of four books on media and politics.