The GOP Hugs Uncertainty

Josh Barro watches the debt ceiling negotiations mangle a talking point:

Over the last couple of years, a common conservative talking point about federal policy changes has been that uncertainty is dangerous. When people don’t know what future government policies will look like, the risk inherent in business investment is greater, without average returns being higher … As with any policy, there could be good reasons to manufacture a debt limit impasse despite the uncertainty it creates. (In my view, there aren’t, but there could be.) Still, opponents of a clean debt limit increase need to account for the uncertainty that their preferred policy will foster.

Kevin Drum suspects "uncertainty has always been a purely political attack, not one grounded in either ideological consistency or empirical evidence."