While it’s been more popular to refer to our current situation as “the latest” or “the most recent” debt limit calamity, the truth is that there’s only ever really been one debt ceiling crisis, and it’s now lasted well over 12 years. It began when President Barack Obama, in one of his less lucid moments as a politician and public intellectual, broke from the tradition of treating the process as the fake, ritualistic bit of nonsense that it was and decided it was a good idea to pair the ceremonial raising of the ceiling with budget negotiations. He did this despite knowing that the GOP wanted an excuse to try to destroy his presidency. A dumb new problem was unnecessarily invented that day, a
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