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Joined 11 months ago
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Cake day: June 5th, 2024

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  • Having a debt ceiling isn’t really the worst idea to an extent.

    Well yes, it is a very bad idea, since it’s redundant. When a funding bill is passed, the government is committing to funding that bill. If new revenue doesn’t cover it, they’ve incurred debt. The analysis is available before they vote. Having a separate vote on the debt is just another way that legislative rules enable inaction. It gives legislators a way to say they’ve voted for something even when they didn’t vote to raise the debt ceiling to pay for it. It’s irrational. Private-sector budgeting doesn’t operate this way, neither does public-sector funding in other developed countries.