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Like tax time, your annual physical, and the (sometimes) annual Family reunion, that pesky debt ceiling drama has come back into the news cycle.\u00a0We are getting a lot of questions about this, so we want to share a few thoughts. Unfortunately, partisans and fearmongers are doing their best to stir up the national anxiety.\u00a0As if we need any help with that!<\/p>\n
So, before I get too flippant on the topic, let me say that if the US were to ever default on the national debt, it would be a major crisis the world over. And, despite the info below, I can never say anything about the future with complete certainty, but\u2026.<\/p>\n
The \u201cdebt ceiling\u201d issue is quite regular, yet every time it comes up, we\u2019re told it is the most important and contentious one ever. The various media outlets will start quoting deadlines for government programs and even putting \u201ccountdown clocks\u201d up on their broadcasts. Remember, they get paid by getting clicks and eyeballs. We just can\u2019t help but look.<\/p>\n
So, I thought this Tweet from Ryan Detrick of Carson Investment Research would prove helpful, just to provide some historical context on this matter:<\/p>\n
![\"\"](\"https:\/\/advisors1.bradcable.com\/lineaprivatewealthmanagement\/wp-content\/uploads\/sites\/142\/2023\/05\/Ryan-Detrick.png\")
<\/p>\n
As you can see, we\u2019ve had 89 debt ceiling increases in 64 years.\u00a0This is hardly a rare occurrence.\u00a0And every President since Eisenhower had multiple increases under their Administration.\u00a0We don\u2019t expect a different outcome here.<\/p>\n
My final point is that, like most people, Politicians value their job security.\u00a0If we default on our national debt, it is safe to say they are out of a job.\u00a0Sometimes they don\u2019t act that bright, but they understand this.\u00a0Most of the \u201cdrama\u201d is just political jockeying.<\/p>\n
Speaking of jockeying, don\u2019t forget to catch the Kentucky Derby this weekend! It will be almost as entertaining as the debt ceiling bickering that will be hitting your airways soon.<\/p>\n
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. Economic forecasts set forth may not develop as predicted. Tracking #435006-1<\/p>\n","protected":false},"excerpt":{"rendered":"
Like tax time, your annual physical, and the (sometimes) annual Family reunion, that pesky debt ceiling drama has come back into the news cycle.\u00a0<\/p>\n","protected":false},"author":35,"featured_media":487,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","wds_primary_category":0,"footnotes":""},"categories":[11],"tags":[],"class_list":["post-486","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"yoast_head":"\n