Vital Signs. Laugh at the US if you will, but Australia narrowly escaped a debt ceiling
- Written by Richard Holden, Professor of Economics, UNSW
The United States government is scheduled to hit its “debt ceiling” of US$28.4 billion on or around October 18.
The US debt ceiling isn’t like the limit on a credit card, which is imposed by the lender worried about the borrower’s ability to make payments.
Instead, it’s a form of self-delusion: a limit imposed by the...
Read more: Vital Signs. Laugh at the US if you will, but Australia narrowly escaped a debt ceiling
