Tuesday, May 02, 2023

Biden's Gang Too

They should have put a stop to the debt ceiling nonsense day one. Not coyly discussed a variety of possible strategies , but just saying it's unconstitutional. Or saying they'll mint the coin. Or saying they have competing laws so they're going to follow one.
The Fed can say its full employment mandate requires it to act, so it's lighting its pile of government bonds that it owns on fire. We regularly see the Fed can be creative whenever it wants to be!

Pretending the debt ceiling is somehow the binding thing simply because "we" all agreed it was is absolutely absurd.

It is the most absurd option of all of the options that are considered to be absurd! In general terms, the inability of Demcorats to say "this frame is made up and bullshit and we aren't bound by it" because they think it gives them Grownup Points is maddening.