So I hear the U.S. government is in default mode today. Well, officially this time, to be more accurate. They’ve been spending several hundred billions more than they’ve extracted since practically forever, it’s not like anything is going to be paid off any time soon.
Prediction: that “ceiling” gets moved next month, then the Fed goes into overdrive to try to make the gap less relevant on paper. Yglesias wants that helicopter drop, we’re gonna get it — and hard.