Commentary
Every time the United States reaches its debt limit, we read that it’s important to reach an agreement to lift it. The narrative is that the debt ceiling must be raised, or the U.S. economy will suffer a severe contraction. There’s even an episode in the TV series “Designated Survivor” in which the character played by Kiefer Sutherland places lifting the debt ceiling as the priority to get the U.S. economy on track.
