The Bottom Line on the Debt Ceiling
As we approach another round of public debate over the debt ceiling, let it be understood that the debt ceiling is wholly artificial and that the borrowing needed is a direct result of congressional budgeting. As such, if Congress wants to control how much must be borrowed to cover spending, it has it within its power to raise revenue and/or cut spending so as to lower the amount needing to be borrowed.
Pretending like the debt ceiling is actually has anything to do with the debt obligations of the United States is pure ignorance, cowardice, and/or prevarication.
There is no legitimate debate here. It is all show. It is a faux debate for intellectual cowards who do not want to deal with the real issues.
There shouldn’t even be a vote on the debt ceiling. It is utter foolishness that the mechanism exists at all.
I am to the point where I can see no reason to take seriously any politician who pretends otherwise.