Even President Trump, displaying shockingly wise economic judgment, has dissed the debt ceiling. “For many years people have been talking about getting rid of the debt ceiling altogether,” he said in June 2017. “There are lots of good reasons to do that.”For many years people have been talking about getting rid of the debt ceiling altogether. As we’ve reported many times before, the debt ceiling originally was enacted to give the Treasury more freedom to issue debt, not less. They could proclaim themselves guardians of public resources, with the debt ceiling serving as their line in the sand.

Source: Los Angeles Times July 16, 2019 17:27 UTC