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Since March 1962, the debt ceiling has been raised 74 times, according to the Congressional Research Service. Ten of those times have occurred since 2001. Expect more of the same over the next decade.
After accounting for all of the governmentâs borrowing needs, CBO projects that debt held by the public would rise by $7.8 trillion between the end of 2014 and the end of 2024, an increase of more than 60 percent.