The IGM expert panel is asked whether they agree with
Because all federal spending and taxes must be approved by both houses of Congress and the executive branch, a separate debt ceiling that has to be increased periodically creates unneeded uncertainty and can potentially lead to worse fiscal outcomes.
Almost nobody disagrees, so I will not argue. Instead, let me propose a defensive question. Ask the experts to agree or disagree with the following:
Because the ratio of debt to GDP cannot keep growing indefinitely, the failure of the executive branch and the Senate to offer a sustainable long-term Budget creates unneeded uncertainty and can potentially lead to worse fiscal outcomes.
I would venture to suggest that this is a more serious source of uncertainty and political friction than the debt ceiling.
I also would venture to offer this guide to budget politics: those who maximize the symbolic significance of short-term budget controversies do so in order to avoid acting on the long-term problem.