In These New Times

A new paradigm for a post-imperial world

Here comes the debt ceiling

Posted by seumasach on January 6, 2013

Why We’re Ungovernable, Part 6: Here Comes the Debt Ceiling

Dollar Collapse

5th January, 2013


The fiscal cliff was always going to end with a whimper because that was the obvious path of least resistance. In the end, simply avoiding big tax increases and spending cuts while adding a few more trillion to the coming decade’s deficit was rewarded by the markets with a huge rally. Everybody went home happy, or at least still in possession of their political office.

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