Look Guys, If You Really Care About Debt Reduction….
…please stop fucking around with the debt ceiling. The fluctuations in Treasury yields do horrible things to long-term debt servicing. In addition to whatever else this stunt did, it added well over 100 million dollars to the national debt just from treasury yield spikes.
This is akin to setting money on fire and using it to light your cigar. But in this case Congress held on to the dollar bill too long, burnt their fingers and couldn’t even finish lighting their cigar.