The dumbest debt ceiling fight yet
Republicans don't want to raise it and don't want to bargain either
When the federal government’s spending obligations exceed its tax revenue, the Treasury Department fills the gap by selling bonds. But Treasury’s ability to sell bonds is limited by the statutory debt ceiling, which needs to be periodically raised or suspended in order to allow the normal functioning of government to contin…
Keep reading with a 7-day free trial
Subscribe to Slow Boring to keep reading this post and get 7 days of free access to the full post archives.