If our leaders and back-benchers agree that the debt ceiling will be raised and we won’t default on our obligations (not just our debt–US Treasury notes and bonds, but obligations to states, municipalities, retirees, etc.), why does Congress require itself to vote on the matter?
The irrelevance of the debt ceiling, except as a political cudgel with which to beat the party in the White House, has been revealed. It’s a completely pro forma, artificial two-step process that adds exactly zero value to the budgeting process–where Congress and the President make their spending decisions. Keeping this charade going only tempts fate in the future. Abolish it.
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