The Fiscal Arsonists

noahpinion.substack.com

3 pointspaulpauper3 comments

So what do you suggest, printing more and more forever, solving the problem once and for all? Troll.

No - the alternative is to hold the same fight over the budget rather than the debt ceiling.

Let us use the analogy (as Kevin McCarthy suggested) of a credit card. Suppose we (the country) have been overspending and now we owe too much and really need to do something about our debt. Here are two options:

(1) Stop charging so much on the card.

(2) Stop paying the bill on the card.

There are lots of good arguments for doing (1), but I have trouble thinking anyone prudent would advise doing (2). And that's what Noah's article recommends.

Well, seems to me this is the only leverage they have. So they're using it.

This "why don't we have reasonable and sensible and productive discussion and laws instead" argument is hilarious - because we don't have reasonable and sensible and productive discussion and laws in this country. So we're using the only tools we have.

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