Does the debt ceiling even mean anything? It's like a credit limit on your credit card, but one which the borrower (the US government) gets to set for itself. Moreover, it's most likely that the government has been borrowing way above the ceiling but simply doesn't make it official until after the debt ceiling is raised: as it always is. Economists Antony Davies and James Harrigan discuss what this means for the taxpayer and for the economy.
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Articles
- Myths and Facts about the US Federal Debt, USNews.com
- Reckoning With Incomprehensible National Debt, www.insidesources.com
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Antony Davies
Dr. Antony Davies is the Milton Friedman Distinguished Fellow at FEE, associate professor of economics at Duquesne University, and co-host of the podcast, Words & Numbers.
James R. Harrigan
James R. Harrigan is Managing Director of the Center for Philosophy of Freedom at the University of Arizona, and the F.A. Hayek Distinguished Fellow at the Foundation for Economic Education. He is also co-host of the Words & Numbers podcast.