Paper barricade

by Shihang

Basically, the debt ceiling says that you can’t do this, except that you can because you don’t do it, your economy will be destroyed in many horrible ways. In other words, it is not a credible way to stop debt. Here’s CBO via Ezra Klein.

I like to think of this sort of thing as moralising politics: doing something utterly stupid for the sake of looking like the good guys.