Posted inOp-Ed

Josh Bivens: Abolish the debt ceiling before it commits austerity again

In a political system beset by many stupid and destructive institutions, the statutory limit on federal debt might be the worst. The debt limit: Measures no coherent economic value. The measure of debt it targets is not inflation-adjusted, would perversely make the debt situation look worse if there was a reform to Social Security that closed that program’s long-run actuarial imbalance, […]