--

It’s not weasel words

But it will be raised because it is extremely bad politics to crash the economy for ideological reasons. And while balanced budgets work in a city, county, less so state level, there are many reasons why it does not work at a federal level.

A major emergency, be a few Katrina level hurricanes, possible under the climate emergency, a global pandemic, or a global war will make responding to the crisis impossible. This is why it’s impractical and no federal government has one of these. It’s also why globally governments went into deep debt under the pandemic, and different governments are figuring different ways to pay for their respective debts.

Fun fact, the debt ceiling is an archaic mechanism that most OECD peer nations got rid off a long time ago.

--

--

Nadin Brzezinski
Nadin Brzezinski

Written by Nadin Brzezinski

Historian by training. Former day to day reporter. Sometimes a geek who enjoys a good miniatures game. You can find me at CounterSocial, Mastodon and rarely FB

Responses (1)