Three Lies They’re Telling You about the Debt Ceiling

Source: Libertarian Institute
by Ryan McMaken

“So here we are again with policymakers essentially discussing how long it will take for the national debt and federal budget to double again. As far as Washington is concerned, that’s all fine. The debt ceiling will rise sizably. We know this because what really matters — as far as DC policymakers are concerned — is that the taxpayer gravy train never stops. Equally important is that the federal government not default on any of its massive debt to ensure continued access to cheap debt — and thus massive amounts of deficit spending — now and forever. To take this narrative at face value, however, we have to buy into some big myths that policymakers are quite enthusiastic about repeating.” (05/24/23)