December 21, 2014

Three Good Ways to Get Rid of the Debt Ceiling

March 26, 2014
The Fiscal Times

Excerpt

“The federal debt limit is ripe for reform,” Robert Bixby, executive director of The Concord Coalition, declared during a budget reform hearing on Capitol Hill last week. He added “the basic problem is that the debt limit does not actually exert control over the nation’s fiscal policies.” One idea to replace the debt limit, promoted by Bixby and other budget experts, would set a long-term target for reducing the ratio of the national debt to the size of the economy, and back it up with an enforcement mechanism if the government fails to reach the target.