MSNBC The Rachel Maddow Show September 22, 2021 08:03:00
Part of the way they decided to placate those critics was to create a new thing in u.s. law. a new limit in the law on what our country could spend on anything. we could spend up to x amount, 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 y...