Debt limit should be raised on time rather than too late. Uncertainty is bad for the economy, and it could be avoided by raising the debt limit in the U.S as soon as it is possible. These decisions have been made on the last minute lately and that is not as good as it could be. Maybe some spending cuts and raise of taxes are necessary also to get the deal done in this. I hope that raising taxes would effect mainly on those who make more money than those poor ones.
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