Debt Ceiling

Latest Posts in Debt Ceiling

The Parties want the Constitution to Balance our Budget

Both parties provoked Federal debt crises for decades, yet they willfully deny the possibility of the US defaulting on future loan payments.


The Debt Ceiling Settlement Dismantled Republican Demands

The leadership of both the Democrat progressive wing and the Republican reactionary wing voted against passing the legislation to allow the debt ceiling to be raised.


A Strategy for Not Defaulting on Federal Loans

The US budget is again teetering on running out of money because the Republicans and Democrats are playing a game of chicken on whether to raise the debt ceiling. The debt ceiling caps how much the US can borrow through issuing bonds. Treasury Secretary Janet Yellen has warned that failure to pay US bondholders will cut revenue to foreign countries, corporations worldwide, US IRA accounts, and personal holdings, which “would undoubtedly cause a recession in the US economy.”


A Debt Ceiling Holds Our Economy Hostage

If Congress doesn’t raise the ceiling, one of the political parties threatens to bring our economy to a halt. That is not a sensible way to run a government. That’s why only the US and Denmark have a debt ceiling set at an absolute amount rather than as a percentage of GDP like other developed countries.


Looking Ahead

We can expect two full years of such obstruction and chaos, at a time when the Supreme Court appears bent on undoing years of settled opinion around issues we consider to be at the heart of our democracy.