There’s a lot of talk in Washington around the so-called “debt ceiling” which is a really unfortunate name. I prefer to call it the “deadbeat ceiling.” Why? A “debt” ceiling implies that what we’re talking about is like a credit card, as if Congress were voting whether or not to raise our borrowing limit. As former Missouri senator Claire McKaskill succinctly
The 14th amendment clearly has not received the attention it deserves. The insurrection clause, the national debt clause...who knows what other treaures this amendment contains? Thank goodness Democrats are willing to find out!
Thank you for explaining it. I'm sure a lot of people, like me, didn't realize that we are not looking to borrow more money, just to pay what we owe. Let's hope the WH looks into the 14th amendment and hammers the deadbeat debt home.
Jay, here’s my question: Why does Congress even get to vote on the debt ceiling? They’ve incurred the debt. The 14th Amendment requires that it be paid. So…why doesn’t it just get paid automatically? What’s the point of voting on the debt ceiling at all?
Thank you! I've been wondering about this since Obama. I seems open-and-shut even if it goes to this particular Supreme Court. So sick of GOP posturing on this. How'd that work out for them last time? As they say, the definition of insanity is doing the same thing over and over, and expecting different results.
I do NOT want to live in a deadbeat nation. I also do NOT want to negotiate with bullies, terrorists, and traitors, which is the assumed identity of the current House GOP.
This article clearly explains what so many do not understand. We owe the payments. Suck it up Buttercup.
If the GOP want the USA to spend less money, I suggest they start in their own districts and states. Note: many red states are “taker states” meaning they receive more federal dollars than they send. So that bridge you negotiated in KY? Gone. Etc.
I’m not an economist, but I don’t understand why the treasury secretary can’t mint a couple trillion dollar platinum coins, as suggested by Congresswoman Rashida Tlaib (and described in detail on a Radiolab podcast titled, “More Money Less Problems” link: https://radiolab.org/episodes/more-money-less-problems )
Deadbeat Ceiling is MUCH better and REALLY gets the point across, succinctly, smartly. Which means you very likely won't see the Dems use it anywhere. I'd love nothing more to be proven wrong.
In any event, I'm going to share this everywhere I can and lets get that hashtag going! #deadbeatceiling
It would be preferable if Congress and the President molded legislation to fit within the then existing debt ceiling. America has a serious spending and debt problem which ultimately will cause a fiscal crisis and deep recession. As our previous generation was the Greatest Generation, sacrificing for the welfare of the nation, the current Baby Boomer generation and those just older are the Selfish Generation, hoping to live in part on borrowed monies and leave the huge bills for our children and grandchildren.
The 14th amendment clearly has not received the attention it deserves. The insurrection clause, the national debt clause...who knows what other treaures this amendment contains? Thank goodness Democrats are willing to find out!
I agree, deadbeat ceiling is a much better term. 🤬gop
Thank you for explaining it. I'm sure a lot of people, like me, didn't realize that we are not looking to borrow more money, just to pay what we owe. Let's hope the WH looks into the 14th amendment and hammers the deadbeat debt home.
Jay, here’s my question: Why does Congress even get to vote on the debt ceiling? They’ve incurred the debt. The 14th Amendment requires that it be paid. So…why doesn’t it just get paid automatically? What’s the point of voting on the debt ceiling at all?
Thank you! I've been wondering about this since Obama. I seems open-and-shut even if it goes to this particular Supreme Court. So sick of GOP posturing on this. How'd that work out for them last time? As they say, the definition of insanity is doing the same thing over and over, and expecting different results.
I do NOT want to live in a deadbeat nation. I also do NOT want to negotiate with bullies, terrorists, and traitors, which is the assumed identity of the current House GOP.
This article clearly explains what so many do not understand. We owe the payments. Suck it up Buttercup.
If the GOP want the USA to spend less money, I suggest they start in their own districts and states. Note: many red states are “taker states” meaning they receive more federal dollars than they send. So that bridge you negotiated in KY? Gone. Etc.
Excellent analysis, Jay. I worry that the SC will create some new rule and find otherwise if we come to this.
Excellent analysis of the situation, thank you!
Really appreciate your crystal clear explanations. Thank you!
Thank you for your clear explanation. I learn so much from reading and rereading your words.
Thank you for such simplistic clarity!
Thank you, thank you, thank you! You ease my worries and I'm very grateful.
How fitting to use the Constitution to thumb our nose at the Federalists in the Republican party.
I’m not an economist, but I don’t understand why the treasury secretary can’t mint a couple trillion dollar platinum coins, as suggested by Congresswoman Rashida Tlaib (and described in detail on a Radiolab podcast titled, “More Money Less Problems” link: https://radiolab.org/episodes/more-money-less-problems )
Deadbeat Ceiling is MUCH better and REALLY gets the point across, succinctly, smartly. Which means you very likely won't see the Dems use it anywhere. I'd love nothing more to be proven wrong.
In any event, I'm going to share this everywhere I can and lets get that hashtag going! #deadbeatceiling
It would be preferable if Congress and the President molded legislation to fit within the then existing debt ceiling. America has a serious spending and debt problem which ultimately will cause a fiscal crisis and deep recession. As our previous generation was the Greatest Generation, sacrificing for the welfare of the nation, the current Baby Boomer generation and those just older are the Selfish Generation, hoping to live in part on borrowed monies and leave the huge bills for our children and grandchildren.