The Debt Ceiling Kabuki Dance
Every few years, the United States rubs up against its mythical “debt ceiling,” a number which must be approved by the Congress to enable the Treasury to use debt to pay our national bills and conducts a ritualistic charade of acting like fiscally responsible adults — a bloody Kabuki dance.
Speaker of the House Nancy Pelosi and Majority Leader Chuck Schumer discussing the debt ceiling in costume of Japanese Kabuki dancers.
The debt ceiling is the maximum amount of money the US Treasury has authority to borrow in the form of bond sales.