"I can tell you that if you look back at previous debt limit debates, that they've always sort of worked out in the end," Hassett told CNN's Poppy Harlow. That suspension runs out March 1, but this isn't the first time the US government has run up against the debt limit. The modern debt limit was formally established in 1939 as World War II was looming, and it was regularly raised without any political fights until 1953. And the politicized debate over the debt limit has routinely resurfaced over the ensuing decades. Debt limit measures were also a feature of congressional conflicts with the Nixon and Ford administrations in the early 1970s.

Source: CNN March 01, 2019 20:03 UTC