WBEZ | discretionary spending http://www.wbez.org/tags/discretionary-spending Latest from WBEZ Chicago Public Radio en Despite current debate, U.S. debt ceiling’s history uncontroversial http://www.wbez.org/node/89468 <img typeof="foaf:Image" src="http://llnw.wbez.org/segment/photo/2011-July/2011-07-21/debt3.JPG" alt="" /><p><p>To allow for more flexible funding of World War I, the U.S. government enacted its first debt ceiling in 1917. Economist <a href="http://utip.gov.utexas.edu/JG/" target="_blank">James Galbraith </a>takes us through the history of the normally uncontroversial procedure. Galbraith is a professor of government at the University of Texas at Austin. From 1981 to 1982, he served in Congress as Executive Director of the Joint Economic Committee. His most recent article "<a href="http://www.alternet.org/story/151593/deficit_predators%3A_everything_you_need_to_know_about_the_twisted%2C_dangerous_debt_ceiling_fight?akid=7269.114943.avJBwN&amp;rd=1&amp;t=18#">Deficit Predators: Everything You Need to Know About the Twisted, Dangerous Debt Ceiling Fight</a>" appeared in AlterNet.</p></p> Thu, 21 Jul 2011 17:00:00 -0500 http://www.wbez.org/node/89468