What galls me the most in this entire imbroglio of our debt ceiling is the hypocritical approach of our politicians: A Congress that authorizes every dollar that gets spent, gleefully accumulating a pile of debt so vast it’s hard to wrap your brains around it; and administrations who have been eager to borrow and spend as directed by Congress.
Debtor Nation
Night of the Living Debt
by Wolf Richter • • Comments Off on Night of the Living Debt
Debt-Ceiling Pissing Match Seen from a Safe Distance
by Wolf Richter • • Comments Off on Debt-Ceiling Pissing Match Seen from a Safe Distance
While Democrats and Republicans, jointly and severally, engage in an all-out pissing match over the national debt ceiling and the budget deficit that even has the Chinese worried, let’s take a moment and reflect from a safe distance on how we got here, and why nothing of significance is going to change.