- Cafe Hayek - https://cafehayek.com -

Harsanyi on the debt ceiling

Tweet [1]

Excellent as always [2]. An excerpt:

It is likely that we will now witness another ridiculous debate on the topic, followed by another Republican surrender, because a measly $14.3 trillion cap won’t do for a great nation. By now, you’ve also probably seen the quote from a once-chaste future president, arguing that even a debate about raising America’s debt limit was a sign of failed leadership (Bush!). A signal, he claimed, that the U.S. government could not pay its own bills, that we were dependent on the assistance of foreigners to fund our “reckless” fiscal policies.

Obama was just kidding. Those were impetuous days in 2006 when Democrats railed against increasing the debt ceiling and Republicans — not yet having discovered “The Road to Serfdom” — were doing what they could to power it through. Today, via the magic of partisanship, the role reversal is complete.

Comments