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Rationality and Irrationality in the Debt-Ceiling Issue

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Rationality and Irrationality in the Debt-Ceiling Issue
A sign at a bus shelter shows the U.S. national debt, in Washington on Jan. 20, 2023. Mandel Ngan/AFP via Getty Images
Mark Hendrickson
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Well, here we go again: For the next few months, we'll be witnessing what I call “the debt ceiling dance”—the same old back-and-forth rhetorical sallies (Republicans: “We need to cut some spending"; Democrats: “Raise the limit unconditionally”).
Mark Hendrickson
Mark Hendrickson
contributor
Mark Hendrickson is an economist who retired from the faculty of Grove City College in Pennsylvania, where he remains fellow for economic and social policy at the Institute for Faith and Freedom. He is the author of several books on topics as varied as American economic history, anonymous characters in the Bible, the wealth inequality issue, and climate change, among others.
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