BONUS: George Hall on Financing World War II and Managing Post-War Debt
Macro Musings with David Beckworth
00:00
The Debt Ceiling Crisis
John Avlon: The debt ceiling is an unproductive constraint in that Congress has already authorized this spending. There were, there have been debt limits since 1775 but what did change from World War I was the disconnect between revenue and expenditures. He says treasury could use lots of possible accounting gimmicks to get around it.Avlon: Hamilton's brilliance can provide a base for other financial markets.
Transcript
Play full episode
