Fixing the Debt Ceiling
In the fight over the debt ceiling, we keep hearing that Republicans should demand spending cuts in exchange for raising the debt ceiling. They should be demanding entitlement reform or tax reform. These are things we all desperately need, but it misses the point of the debt ceiling. It also accepts the president’s premise that the debt ceiling must be raised, which reflects a bigger problem, which is, people don’t understand the debt ceiling even on the right. Starting from the premise that the debt ceiling must be raised means people actually think that not doing so will...
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