Macro Musings with David Beckworth cover image

Michael Strain on Averting the Looming Debt Ceiling Disaster

Macro Musings with David Beckworth

00:00

Does Raising the Debt Ceiling Make AnySense?

Sailing the debt ceiling does not authorize any additional spending. Raising the debt ceiling simply authorizes the Treasury Department to pay for the spending that has already happened and that Congress has already approved. The debt ceiling puts the president in a weird position of kind of picking which laws it will break, says CNN's John Sutter.

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