*The nation’s borrowing limit is suspended until Jan. 1, 2025, under the Fiscal Responsibility Act*
Why call it that? A responsible act would be a balanced budget.
Who would ever want to be the next President (besides someone who wants to grift their position to make their family rich with donations and fake corporate board positions and consulting gigs for which they have no qualifications). The economy is now in a prolonged and far over-stretched delay toward a reckoning. The debt that keeps getting kicked down the road (and massively added to by more than just the interest) is basically suicidal. The types of hard decisions to be made where you basically have to tell everyone it’s time to suck it up because the sacrifices will cut deep are not going to go over well.
What are the odds on the over for a $3.5 trillion budget deficit next year? 4:5?
If the 2024 presidential victor is a Republican, the public will be told it is his/her fault.
If the 2024 presidential victor is a demonrat, the public will be told that it was the fault of the 2023 congress.
If the economy is growing then DC can spend more, if it is shrinking then it makes it harder to spend more. Not that they won’t use the old stimulate the economy ruse so they can continue to spend more. Why do they need to spend more? Votes.
The money is fake.
It’s all a stupid charade.
The best solution would be to split the country. Let the Blue states keep the legal status as the United States and the new one will start debt free. It will at least be amusing to see them try to fix the debt by “investing” in gender studies majors and green energy ponzi schemes.
Congress will need to deal with it first. Good luck with that.