Sunday, August 4, 2019

A Note on the Debt Ceiling

I am of mixed minds about the quiet, no-drama raising of the debt ceiling.  On the one hand, the debt ceiling should not be a hostage and all such games of chicken should be discouraged.

On the other hand, for Republicans to hold the debt ceiling hostage and Democrats not to does feel rather like unilateral disarmament.

On the whole, I think the Democrats did the right thing to raise the debt ceiling with a minimum of fuss.  After a big, dramatic showdown with Obama, Republicans ultimately appear to have decided that such showdowns are more trouble than they are worth.  So maybe -- maybe -- we just might be seeing a broken norm being restored.

Of course, a much better option would have been to do away with the debt ceiling altogether and prevent any future such showdowns.

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