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Should Congress Abolish the Debt Ceiling?
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Should Congress Abolise the Debt Ceiling?
If we get to a real debt crisis, one that's not necessarily coming from a self-imposed limit by Congress, it will happen very quickly. If they can't make the changes to the budget to figure out how to fix the deficit, we're going to see runaway inflation where the federal reserve is effectively buying up all this new debt with brand new money. It would be just like what we saw after the pandemic, but forever. So we need to keep the debt limit, because it's an effective mechanism for Congress to come back and make these difficult fiscal choices"
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