Remarkable: a Republican president advocating for the permanent removal of federal government borrowing limits. http://wapo.st/2jbm9Oy pic.twitter.com/EWYVhCUvqI
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In the end, most understand that the ceiling must be raised and that's what happens, but without this review there is little examination.
I know that's not textbook ideal, but in practice, there is no other real political forcing function for spending reexamination.
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If the limit is always raised then it can't do that either. The risk of default is real or fake it can't be both.
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And dismissing the concerns of experts in this stuff (all of them!) as "academic" is unworthy of you.
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Why risk a certain economic crisis (from default) to prevent a possible one (from overspending)? How does that make sense?
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You are literally - to quote Bismarck - saying we should "commit suicide for fear of death." Why would anyone want to do that?
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If your baby slept with a rattlesnake in the cradle safely for one night would you say let's do that every night? Of course not. Same idea.
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Your work on Trump is awesome and your CIA service is heroic Evan. But please please listen to people who understand financial markets.
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