Economist Stephanie Kelton on the Debt Limit, a Potential Catastrophe We’re Risking for No Reason
Deconstructed
The Debt Limit: A Secondary Check
Congress appropriates, and Congress passes legislation that commit the government to making certain payments. And when they refuse to raise the debt limit, what they're essentially doing is saying: We don't want you to facilitate the spending the way you usually do. So, figure out how you're going to do it," he says.
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