The Federal Debt Ceiling Charade
Although the United States has had a legal federal debt ceiling on the books since 1917, it has not really been an issue until the massive government borrowings needed to finance World War II. And even then, the President and Congress had no compunctions about raising the debt ceiling during a military challenge that posed an existential threat to our nation. Q2 2021 hedge fund letters, conferences and more Raising The Federal Debt CeilingDuring the decades since then, as our national debt approached its legal ceiling --often with the president’s urging -- Congress would obediently raise the l...