MSNBC The Rachel Maddow Show September 22, 2021 01:04:00
But if for any reason the government wanted to spend any more than that, the congress would have to affirmatively regroup, write a piece of legislation and pass a new limit on what we could spend. that process was created in 1917 to placate the isolationists who didn't want us to enter world war i. that is the very specific history of how we got what we call the debt ceiling. we got it in 1917, the same year we did finally declare war on germany. and, you know, we eventually got over the whole gigantic, endless, apocalyptic war with germany thing, it took two tries, but we didn't get over the ...