REUTERS/Gary Cameron - U.S. Treasury Secretary Jack Lew testifies before the Senate Finance Committee on the U.S. government debt limit in Washington October 10, 2013. Lew said on Thursday that gridlock in Washington was hurting the U.S. economy and urged Congress to raise a cap on government borrowing to keep America from defaulting on its debt. The U.S. government shutdown is now in day 10.
The debt ceiling, yet again
March 13, 2015,
On Monday, March 16, the US runs yet again into the debt ceiling. In this post, Philip Wallach argues that, while not necessarily a catastrophe, the debt ceiling is simply a terrible distraction from the important business of thinking about our nation’s fiscal future.