HOUSE_OVERSIGHT_025221.txt

The document discusses the US debt ceiling negotiations and how they impact large cap growth stocks and rising corporate profits. The writer compares the current situation to a similar discussion in the 1980s when President Reagan scolded Congressional Republicans for delaying debt ceiling increases, which at that time was only half of what it is today relative to GDP or government revenues. The writer argues that while unconstrained debt growth with no plan to slow it is bad, default is also a very bad idea and suggests that debt limit legislation serves as a way for a democracy to decide whether mega-deficits are in the long-term public interest.