Veronique de Rugy on Debt Ceiling Fight Club
At the current rate of federal spending, the national debt will crash through its legal $16.4 trillion limit by January 2013. When that happens, both sides of the aisle will be hoping to avoid a repeat of the hysterical debt ceiling showdown in the summer of 2011. The Democrats have not managed to pass a budget in years and do not have plans to reduce our mounting debt. Republicans generally wind up trying to weasel out of whatever spending cuts they agreed to before the ink on the deal has dried. In other words, writes Veronique de Rugy, get ready for the next round of ugly budget battles.
Hide Comments (0)
Editor's Note: As of February 29, 2024, commenting privileges on reason.com posts are limited to Reason Plus subscribers. Past commenters are grandfathered in for a temporary period. Subscribe here to preserve your ability to comment. Your Reason Plus subscription also gives you an ad-free version of reason.com, along with full access to the digital edition and archives of Reason magazine. We request that comments be civil and on-topic. We do not moderate or assume any responsibility for comments, which are owned by the readers who post them. Comments do not represent the views of reason.com or Reason Foundation. We reserve the right to delete any comment and ban commenters for any reason at any time. Comments may only be edited within 5 minutes of posting. Report abuses.
Please
to post commentsMute this user?
Ban this user?
Un-ban this user?
Nuke this user?
Un-nuke this user?
Flag this comment?
Un-flag this comment?