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OPINION

Again? Debt-Ceiling Fight Could Be Back Before 2012 Election

The opinions expressed by columnists are their own and do not necessarily represent the views of Townhall.com.
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Remember the debt ceiling? Thought that was all squared away over the summer by the Budget Control Act and the creation of the super committee? Maybe not.

There is a chance – and not a comfortably small one – that another debt-ceiling fight could rear its sure-to-be ugly head before the November 2012 election. The super committee could mitigate the risk by agreeing to $1.5 trillion in deficit reduction, but a lack of progress toward any deal at all means that’s unlikely.

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“We don’t hit the debt ceiling until after the election, assuming the economy doesn’t crash and assuming that Europe doesn’t pull us back down,” said Ethan Pollack, a fiscal policy expert at the Economic Policy Institute. But if there’s a recession, Pollack said, “there’s a very good chance" the United States would hit its $15.2 trillion debt ceiling before the end of 2012.

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