This Again?

We appear set to have yet another debt ceiling fight, so let me repeat what I have said in previous situations when a debt ceiling fight was pending: Having a debt ceiling fight is a terribly dumb idea. It brings about financial uncertainty, it flirts with yet another downgrade of America’s credit rating, and failing to raise the debt ceiling only serves to make our country a deadbeat. We are not, after all, raising the debt ceiling in order to have money for new spending, rather, we are raising the debt ceiling in order to have money to pay for all of the things we have already charged to the national credit card.