Wednesday, January 05, 2011

Debt Politics in a Nutshell

Bruce Bartlett in Salon:
The basic thing is that the debt ceiling simply allows members of Congress to avoid responsibility for their own actions. They can increase spending and cut taxes and in the process increase the deficit and then express outrage when the logical consequences of their actions require the Treasury to borrow more. It gives them a free vote; they can go back to their constituents and say I voted to control the debt by not increasing the debt limit. And some people are foolish enough to buy this stuff.

1 comment:

Cheryl Rofer said...

And they can flirt with collapsing the global financial system at the same time.

What's not to like?