this post was submitted on 20 Dec 2024
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The debt ceiling isn't "real" it's a self own created in the early 20th century. It doesn't mean the government is running out of money, as the US government by definition cannot run out of money because it issues its own money by fiat. All the debt ceiling means is that the US is, for reasons unexplained, not allowed to issue more money to pay existing debts (ie bond payments) until they raise it, which usually involves a lot of theatre and horse trading.
It's one of the sacred norms
We have so few left after the passing of Norm MacDonald
someone check on kevin bacon!
Yup. And I did read the "why" - which is the US can't "spend" without a budget (except it still obviously does spend money, they just don't pay federal employees lol) - but why hasn't any big brained govt worried about losing its majority (or just a fan of not pissing 0.1% of GDP per week of a shutdown) not spare a tiny bit of a budget ahead of time to cover that risk?
Though saying all that I've answered my question haven't I? Shutdowns benefits both parties at some point so they're never gonna get rid of it just like they'll never get rid of the filibuster. It's just one of those things where both parties pretend to be really angry at the other for a little bit before agreeing to send another billion dollars to Israel.
Yeah it's not in the interest of either party to get rid of it because it's an ocassion to wrest something from each other. Neither is actually interested in good governance, if they were they'd just get rid of the debt ceiling entirely.