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"I am not from the US and I didn't downvote, but my understanding is that your congress needs to approve spending twice: first they vote for laws that require a
by anotherman554 3y ago
"I am not from the US and I didn't downvote, but my understanding is that your congress needs to approve spending twice: first they vote for laws that require a budget to implement, and then later when the money is actually needed "
Sort of. The debt ceiling is not required by the U.S. constitution, so congress doesn't need to do things this way, the process could be changed by an act of congress. The debt ceiling was first established by law in 1917.
- NBJack 3y agoThe debt itself is effectively leverage invented by congress. It has no real merit beyond a poker chip that also happens to be the financial nuclear option. I don't see their motivation to get rid of something that actively works in their favor most of the time. That's the part that truly sucks.