And again.
Debt ceilings began about 1940. It has been largely advocated by conservatives as the ONLY obstacle to growing the debt to infinite. The current arrangement was reached in 2023 with the specific intention of extending past the election.
The special measures Treasury will take have been used many times before when debt ceiling arguments were underway. There is nothing new here. Those measures will likely avoid default out to about June.
The pros and cons — eliminating the debt ceiling eliminates the periodic contentious fight that attach various agendas to that legislation, which MUST pass.
The con . . . the need to keep it, is the original rationale. It is the ONLY obstacle to unlimited spending. The obstacle gets overcome after the big fight. The question then becomes . . . is there value in fighting against growing debt.
I would suggest there is zero benefit to easing the work of Congress. Why not humiliate them with periodically having to fight over the debt ceiling and endure the embarrassment — and elevate awareness of the crushing numbers.