Debt Ceiling PSA
To use the technical political science term, the debt ceiling is dumb. It is dumb regardless of who is in the White House and irrespective of which party controls Congress. It is dumber than the day is long. It is so dumb that the depths of the ocean cannot contain its dumbness. An infinite number of monkeys typing on an infinite number of typewriters could not write up how dumb it is.
It does not constrain spending. It does not affect the size of government. It has nothing to do with influencing the budget.
It is just plain dumb.
Here is my post from 2011 on the subject: What is the Debt Ceiling?
To quote me:
Here’s the deal: the spending has already been authorized—the bills are going to come due (bills like, for example, continuing military operations in Afghanistan, Iraq and Libya or keeping air traffic controllers in towers and stuff like that). As such, we have to borrow to keep paying the bills.
If you didn’t pay attention to the above paragraph, please go read it again.
(How depressing is it that the Afghanistan and Iraq references still hold six years later?).