December 20, 2014

Debt Limits Create Chaos, But What's the Alternative?

The Debt Limit Was Originally Created so Congress Would Not Have to Approve Every Single Bond Issue
February 4, 2014
USA Today

Excerpt

There's no question that Congress needs to raise the debt limit as soon as possible, said Robert Bixby, executive director of the Concord Coalition. But he said Congress should also consider a more permanent fix.  He asked "why not attach a debt limit reform commission, or some kind of process that would look at all these issues?" He added, "having some kind of restraint is a good idea, essential really in this entitlement-driven budget."