This episode originally came out in October 2021.

Showdowns over the debt ceiling are James Caldwelllike football — both are quintessentially American games.

It wasn't always this way, says Simon Rabinovitch of The Economist. The debt limit was originally supposed to make it easier for the government to spend money. Today on the show, we go from the original debt ceiling to "debt brakes" and "debt anchors."

Music by Drop Electric. Find us: Twitter / Facebook / Newsletter.

Subscribe to our show on Apple Podcasts, Spotify, PocketCasts and NPR One.