Dare to dream of a world without endless debt ceiling hikes

Jesse Hathaway

Source: Heartland Institute
by Jesse Hathaway

“The debt limit was created by the Second Liberty Bond Act of 1917, a law partially freeing the executive branch from congressional oversight on debt policy. Between 1917 and today, the federal government’s credit limit has been extended — largely without question or care — at least 78 times. It’s time to start caring. Refusing to extend the government’s debt limit for once would not trigger Doomsday, but instead would force the federal government to actually think about what it’s spending instead of just continuing to light taxpayer money on fire.” (06/21/17)