The debt ceiling as a perpetual soufflé

The debt ceiling as a perpetual soufflé

As Veronique de Rugy explains, the debt ceiling was initiated in the U.S. in 1917 as a way to ensure responsibility in congress. Since then, government has raised it nearly 100 times. In the last ten years, they have raised it ten times, on occasion, twice in a single year.

To borrow from Jacques Barzun, the constantly rising nature of the debt ceiling resembles a perpetual soufflé. One might wonder when it will be time to stick a fork in it.

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