The U.S. government without a rising debt ceiling is like an average American without a credit card. If you can’t borrow money, you can only spend what you earn. As Bruce Bartlett explained to me, “Let’s say the Treasury makes $100 of cash today but it has to pay $1000 of bills. You have to create a line.” If we pay off investors, we can’t pay off contractors. If we pay Social Security checks, we can’t pay federal employees. Michael Linden predicts the immediate cessation of 40 percent of federal government activities, including Social Security and military operations.
Japan just opened to tourists for the first time since the coronavirus pandemic began, echoing the island country’s isolationist policies during the feudal era.
Flashy desalination technology is more costly and cumbersome than many other solutions.
Uncertainty is inherent to our Universe.
It turns out it’s hard to make work at an Amazon warehouse fun.