January 18, 2011
Why Have a Debt Ceiling?
By Gene Schwimmer
Every Passover, Jews ask, "Why is this night different from all other nights?" As Republicans in the newly-minted 112th Congress take pooper-scoopers in hand to begin cleaning the Augean Stables of the 111th Congress, one might similarly ask, "Why will the upcoming debate on raising the debt ceiling debate be different from all other debt ceiling debates?"
The debate will be different this time because this Congress will be debating whether to raise the debt ceiling under the scrutiny of an electorate that is ready to raise the roof if their elected officials fail -- again -- to enact meaningful spending cuts. Read More
