I’ve never taken a course in economics, but I think I’ve figured out this debt ceiling thingy pretty well.
Congress voted a debt ceiling in order to protect taxpayers from Congress overspending the taxpayers’ money.
Congress decided that Congress really doesn’t want to stop overspending the taxpayers’ money, so Congress wants the debt ceiling raised.
Congress will now tax the taxpayers more tax money so that Congress can raise the debt ceiling, thereby protecting the taxpayer from the Congress that will continue to overspend even more of the taxpayers’ money.
Who said this was complicated?
I think of the spoiled rich kid with more money than brains who always wants more money when he already has too much.