Economist Says Dump Debt Ceiling

This prolonged fight over the debt ceiling in Washington? Completely unnecessary, says UWL economics chair, Taggert Brooks.  Shouldn’t be a debt limit at all, he says.  Best advice for congress in the coming months?

 

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Brooks says bond markets are the best determinant of how much congress can borrow to operate the U.S.  Once debt gets too big, those markets will downgrade the nation’s credit rating, making borrowing more expensive.