Jonathan Bernstein: “The good news is that Congress has come up with a solution both parties can live with to raise the limit, and lawmakers cut the deal well before the latest deadline. So the markets won’t be roiled by the possibility of a debt-limit breach, let alone an actual economy-destroying default. Hurrah.”
“The bad news? The debt limit, the stupidest law in the nation, survives, and Congress will need to deal with it again, probably in 2023. It’s a bomb left unexploded, and it certainly could go off one of these days.”
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