Averting a Debt-Ceiling Disaster
Sometime this summer, federal borrowing will bump up against its legal limit unless Congress can agree to raise or suspend the “debt ceiling.” With Republican fanatics already planning to use the issue as blackmail, it is incumbent on the rest of Congress to get to work on a deal to sideline them.
WASHINGTON, DC – Republican members of the US House of Representatives took more than four days and 15 rounds of voting to decide who would be the next Speaker of the House. Though the press coverage of this process was largely overblown – it was not a “crisis” or anything close to one – that does not mean there won’t be crises in the coming months.