3 ms·
The current ceiling for gross debt is $31.4trn (117% of gdp), and America is careening towards it. If the debt is supposed to be no higher than set percentage
by simonblack 4y ago
The current ceiling for gross debt is $31.4trn (117% of gdp), and America is careening towards it.
If the debt is supposed to be no higher than set percentage of the GDP, and the GDP drops, shouldn't the debt-ceiling also drop? Or is setting a debt-ceiling just so much bullshit theatrics that should be done away with entirely?