Thomas E. Mann: Debt Limit
on Tuesday, July 4, 2023Meaning of Thomas E. Mann Money Quote: saying The debt limit (AKA Debt Ceiling) should be raised every budget cycle, but political posturing is applied routinely. Thomas E. Mann said:
“Since the debt limit simply accommodates debt that has already been incurred, raising it should, in theory, be perfunctory. But politicians have found it a useful shibboleth for showing their fealty fiscal discipline, even as they vote to ratify the debts their previous actions have a beginning the country to pay. The symbol of railing against debt has proven politically beneficial, even if not substantively meaningful” — Thomas E. Mann
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