Because changing the definition would require getting two diametrically opposed parties to cooperate, one of whom weaponizes the debt ceiling whenever it wants to do something inhumane, racist, or just plain stupid.
And the other is run by an oligarchy that makes its money shipping of US$ to the rest of the world for their own enrichment while pretending to care for the poor and the workers. And also engaging in racism by exporting abortion culture to the developing world so that there can be fewer brown people.
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Why is the debt ceiling defined as an absolute number? Wouldn't it make more sense to define it as a percent of the GDP or tax revenue
Because changing the definition would require getting two diametrically opposed parties to cooperate, one of whom weaponizes the debt ceiling whenever it wants to do something inhumane, racist, or just plain stupid.
And the other is run by an oligarchy that makes its money shipping of US$ to the rest of the world for their own enrichment while pretending to care for the poor and the workers. And also engaging in racism by exporting abortion culture to the developing world so that there can be fewer brown people.
stop it you guys, neither party is all good, but the wallpaper costs between them are astronomical while people argue which is worse