Grasping Reality on TypePad, by Brad DeLong

A rather obvious statement that 84% of polled economists agree with:

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.

Luigi Zingales says that he disagrees--presumably he thinks that the separate debt-ceiling vote adds to certainty about future policy and leads to better fiscal outcomes.