Peter Earle is an economist with The American Institute for Economic Research (AIER), a former trader, and a West Point Grad. We'll discuss the politics of the upcoming debt ceiling fight. Here's a short version of part of Pete's take: At this point there are no good alternatives: either the US doesn't pay its obligations and our credit rating is wrecked, or we continue to expand spending , which means taxes and inflationary finance continue their upward march. The only positive that can be salvaged from all of this is that it serves to raise public awareness regarding the astronomical levels of spending that the American government is doing.
But what do Republicans REALLY want? https://thedispatch.com/newsletter/boilingfrogs/a-fight-about-nothing
RELATED: On their current path, Social Security will face insolvency at its projected levels of payouts in 10 years, leading to massive automatic cuts: https://www.cbo.gov/publication/58564