The debt ceiling deal

The debt ceiling deal
By: Marginal Revolution Posted On: May 28, 2023 View: 17

Ho hum.  Political bargaining, so what else is new?  Kicking fiscal problems down the road, so what else is new?  True permitting reform?  We’ll see how much they end up doing away with judicial review.

As I stated long ago, I don’t favor either having a debt ceiling or using such a debt ceiling for strategic purposes.  But this deal is not very different from what would have resulted from the normal appropriations process, is it?  All in all, not worth monkeying with the Constitution for, with such dubious elements as minting the coin, invoking the amendment, and so on.  The influence of Donald Trump really is spreading, isn’t it?  There may yet be a final round of drama, but the people who treated this event as the nothing burger it is were on the right track the whole way through.

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