Debt Ceiling

Ezra Klein writes (behind NYTimes paywall):

Defenders of the debt ceiling will tell you that the limit has been around a long time and has largely operated to the good. America has never defaulted on its debts, but the debt ceiling has often motivated compromise between the two parties. That may be true, but it’s a bit like saying that since America has won every game of Russian roulette it’s played so far, it should keep playing.

The New York Times is one of the best tools for tracking what it is like to be living in what William Gibson called “the jackpot”.

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Ezra Klein, Liberals Are Persuading Themselves of a Debt Ceiling Plan That Won’t Work, New York Times, 5/31/2023.