Weekly Update: Debt Ceiling Hysteria and Hypocrisy

by Dr. Ron Paul
Ron Paul Institute

This week the US government reached its 31.4 trillion dollars borrowing limit, better known as the “debt ceiling.” This led to a showdown among House Republicans, President Biden, and congressional Democrats.

House Republicans are demanding that President Biden and Senate Democrats agree to include spending cuts with the debt ceiling increase. However, President Biden and the congressional Democrats are refusing to negotiate with Republicans. Rather, they and their allies in the mainstream media are lambasting Republicans for their “irresponsibility” in seeking to include spending cuts with an increase in the debt ceiling.

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