The Debt Ceiling: A Contrived Political Matter

The debt ceiling is a totally contrived political- Yeah. In other words, if your entire federal credit mechanism has the power to print dollars ad nauseam, it's impossible to default unless you decide you want to as a political matter. So there's no crisis here except the crisis that the politicians decide to have. Not to say that they don't have serious disagreements, especially over the pork fest that Washington has put out both sides of the House for the last 20 or 30 years.