Debt Ceiling Standoffs Are Insanity

The Economist: “These debt-ceiling fights are American governance at its most stupid. As achievements in hypocrisy and self-defeat, they cannot be beat. When Republicans had unified control of government under Donald Trump, they freely raised the ceiling and, with it, the debt, while Democrats, for all their piety now, have also used the debt ceiling for leverage.”

“As for self-defeat: the last time a Republican House pursued such brinkmanship the president was, of course, a Democrat (Barack Obama), and the result was a jump in rates that may have added half a billion dollars to the debt.”