The Debt Ceiling and the Fiscal Boom State Machine

The debt ceiling is the only tool of fiscal management left. They don't pass budget resolutions anymore or the reconciliation bill that forces changes and spending or revenue. Back in the day when I was on Capitol Hill, we considered it kind of almost a sacred duty. If you don't have a budget resolution because they just skip their fundamental duty,. The only way that you can get any kind of control or leverage over this monster, I call it the fiscal boom state machine.