Debt Ceiling: Economic Experts View

What do economic experts say about the debt ceiling? IGM recently polled a panel of economists.

The question:  "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."

Eighty-four percent of the panel either agreed or strongly agreed. When the responses were weighted by economists' confidence in their responses, the outcome was ninety-seven percent.

In other words, economists overwhelmingly believe the debt ceiling makes no sense.

I agree.