The Politics of the Debt Ceiling

Government debt to GDP has been increasing every year without any real downturn at all in the overall debt. So what we have here is a completely ridiculous and preposterous measure really designed for political infighting within Congress. US social spending is among the meanest in the overall OECD country lead tables according to Cornell University Professor Robert Hawke. Tom Ferguson says that Biden needs to raise money this time around he's going to try to overcome his unpopularity by raising the debt ceiling.