QJAE: Common Fallacies in the 2023 Debt-Ceiling Debates

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11/08/2024 Power & Market Paul H. Kupiec Alex J. Pollock

Abstract:

This article investigates the veracity of three claims made by current and former government officials in the context of the 2023 debt-ceiling debates: it would be unconstitutional to enforce the debt ceiling; the U.S. government has never defaulted; and there are no measures that could be taken to avoid a government default except raising the debt limit. None of these claims is true.

Read the full article at the Quarterly Journal of Austrian Economics.

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