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Why should corporate managers care about the debt ceiling? It’s beholden to political battles and theatrics, which may seem farcical to an outsider, but increasingly reflect the growing polarization of the political system. Managers must plan for the drama that plays out almost every year and could one day even result in a fiscal collapse. While the debt ceiling may seem like a purely political matter, managers must understand the dynamics of these standoffs and account for them in their operational strategies and long-term planning.