What JerrySeinfeld's 'Black Card' can teach lawmakers about the debt limit
In a 2018 episode of “Comedians in Cars Getting Coffee,” Jerry Seinfeld explained his version of how the Black Card came to be:
And that makes sense because neither the Sultan of Brunei, nor Jerry Seinfeld, nor American politicians should be given a limitless line of credit. But unlike ordinary households—and unlike even exclusive Black Card holders—the federal government can simply vote to raise or temporarily waive its debt limits.
Imposing an actual debt limit and enacting meaningful spending reforms is crucial, because if politicians don’t set their own limits, they’ll face the market’s limits.
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