Daily Archives: May 26, 2023

Research Review | 26 May 2023 | US Debt-Ceiling Risk

Common Fallacies Surrounding the 2023 Debt Ceiling Debates
Paul Kupiec (American Enterprise Inst.) and Alex Pollock (Ludwig von Mises Inst.)
May 7, 2023
We investigate the veracity of current and former government officials’ claims made in the context of the 2023 debt ceiling standoff: that it would be unconstitutional for the US to default on its debt; that the US has never before defaulted; and there are no extraordinary measures that could be taken to avoid a government default by mid-summer. We show that all of these claims are demonstrably untrue.

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Macro Briefing: 26 May 2023

* Outline for a possible US debt-ceiling deal takes shape
* Three options to avoid a debt-ceiling crisis without a political compromise
* Europe’s source of economic resiliency–Germany–is breaking down
* New Chinese hacking effort risks derailing hopes for a US-China thaw
* JPMorgan developing ChatGPT-type AI service that gives investment advice
* US GDP growth in Q1 revised modestly higher to 1.3%
* US economic activity strengthened in April via Chicago Fed Nat’l Activity Index
* Pending home sales in US were steady in April
* US jobless claims edged up last week as prior weeks revised lower:

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