The Daily Chart: Behind the Debt-Ceiling Fight

I suppose we could excuse John Fetterman, who is not firing on all cylinders, for this kind of ignorance, except that it is rampant in the Democratic Party today:

Move over Equal Protection Clause! Raising the debt ceiling was the whole reason the post-Civil War Congress passed the 14th Amendment. Who knew?

“Responsible people” like to say that being able to hold the debt ceiling “hostage” is irresponsible and a threat to the credit-worthiness of the United States, as well as the stability of the financial markets. Let me suggest the opposite thesis—the ability of a Republican Congress to apply even minimal brakes on leftist spending impulses is the only thing that prevents the left from turning the U.S. into Argentina. We’re already on the path toward that unhappy outcome. Here is what has happened to our federal interest costs on the debt in just the last decade:

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