Since 1917, when the debt ceiling was first implemented as part of the Second Liberty Bond Act, Congress has voted to raise the debt limit more than 100 times, ensuring that the government can continue to spend money and pay its debts. But the U.S. is now less than a month away from breaching the debt ceiling unless the White House and congressional leaders can forge a deal. Here are Five Facts on how once-sedate debt ceiling votes have become so high-stakes and controversial.
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