Whenever the establishment left and right agrees on something, writes Shikha Dalmia, expect a big assault on our democracy. That is the case with the emerging consensus that the debt ceiling should be dumped—for two years at least—in any deal that replaces House Speaker John Boehner’s ill-fated fiscal cliff Plan B so that spending hawks can’t later hold the economy hostage to extract cuts. But there are few external market checks on America’s profligacy. Without strong internal political checks, it might well spend itself into oblivion.
GET REASON MAGAZINE
Get Reason's print or digital edition before it’s posted online
- Peter Suderman: Obamacare's 12 false premises and broken promises. Plus: The long, tortured quest for a conservative health policy.
- Consumers should drive medicine
- Jacob Sullum: Prosecutors disarm defendants by freezing their assets
- Ronald Bailey: The Aloha State’s dishonest anti-biotech campaign