Remember the Last National Debt Ceiling Crisis?


This morning the Washington Post published an article that I certainly hope is accurate: Trump voters now blame him for the government shutdown. Notice, the headline said “blame.”

Meanwhile, do you remember the last national debt ceiling crisis, back in 2013? To refresh your memory, see here and here.

As I best remember, as the national debt was reaching its statutory limit, the Republican politicians threatened not to raise the ceiling unless various political demands were met—a threat that, if fulfilled, would have meant default on the national debt.

The Democrats, tired of this sort of horseshit, responded: we’re not giving in this time, and so if you want to cause a financial panic, just go ahead and do it.

The Messrs. Moneybags were not best pleased. They owned lots of bonds, and were not anxious to miss their payments.

They told their sockpuppets to stop the nonsense. The Republican politicians stopped the nonsense.

And no one, since that time, has given a moment’s thought to the national debt limit.