If You Only Read One Thing On The Debt Ceiling Today...

Michelle Bachman

The talk about the debt ceiling continues to be intense, though most of it is just noise, and no news.

But you should read this piece by James Hamilton at Econbrowser who points out the absurdity of the GOP’s stance.

See, it’s only a weird quirk of law that the vote to raise the debt ceiling is somehow different than the budgeting process, to which he says:

If you have a concrete proposal to raise tax revenue or cut spending, then put it on the table. But if you simply want to grandstand on the debt ceiling as if it were a stand-alone issue, it is clear that you have nothing but contempt for the voters.

And if so, then you deserve the same in return.

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