Once again, the U.S. could be drifting toward a default crisis sometime between mid-July and October, according to an estimate this week from the Bipartisan Policy Center.

Addressing the issue soon would be welcome in the world of global finance. However, brinkmanship over the risk of a default of at least part of what is now a $36.2 trillion figure by the Treasury Department’s count is nothing new.

Rather than becoming old hat, it’s more of a panic that eventually sets in as deadlines approach. Even the approach of a debt showdown has resulted in downgrades of the U.S. credit rating.

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