The Right Way to Address the Debt Limit
Jeffrey Miron
With an impending showdown of the federal debt limit looming, neither Republicans nor Democrats are addressing the only real way to reign in debt and keep the U.S. fiscally solvent. In a New York Sun column today, I tell lawmakers a difficult truth:
The United States currently limits the federal debt to $31.4 trillion. Borrowing hit this limit on January 19, but the government will not default until at least July due to various “extraordinary measures.” If default occurs, a major financial crisis is likely. Читать дальше...