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CAPITOL PLAN: While narrowly averted last week, default by the US government is an unthinkable event that would trigger a more severe recession than that of 2008.

Legislators overstep the mark

Business and politics are terrible companions – as this state discovered in the 1980s when the government was called on to rescue a number of failing companies, and the wider world is now realising as it suffers the aftershocks of the 2008 GFC.

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