Debt Ceiling Theater, The 2023 Revival

Source: American Institute for Economic Research
by James R Harrigan & Antony Davies

“It’s time again for Debt Ceiling Theater. Since 1940, Americans have typically caught this show just about every eight months. The actors and dialogue change, but the characters and the plot never do. ‘Party out of power’ shows that it’s tough on spending by refusing to raise the debt ceiling. ‘Party in power’ trots out the poor, the environment, the elderly, the military, or whatever else will get the voters all worked up, and cries that ‘party out of power’ is holding the country hostage. Even the media has a cameo appearance as ‘concerned institution informing the public and holding politicians’ feet to the fire.’ In fact, the actors are all there to make a buck.” (01/23/23)