July 29, 2011 • The New York Times
Q. and A. on the Debt Ceiling For a time it seemed safe for many people going about their summers to try to ignore the debt ceiling drama playing out in Washington. If Wall Street had not seemed overly concerned that the United States was headed toward default, why should anyone else worry? And there is the long history of crying wolf in Washington: in April everyone finally got up to speed on the threatened shutdown of the federal government just in time to see it averted by an 11th-hour deal.

Q. and A. on the Debt Ceiling

For a time it seemed safe for many people going about their summers to try to ignore the debt ceiling drama playing out in Washington. If Wall Street had not seemed overly concerned that the United States was headed toward default, why should anyone else worry? And there is the long history of crying wolf in Washington: in April everyone finally got up to speed on the threatened shutdown of the federal government just in time to see it averted by an 11th-hour deal.

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