Debt limit showdowns can be a good thing

Source: Fox News
by Brian Riedl

“President Trump has reportedly cut a deal with Congressional Democrats to kick the can down the road on the national debt. The deal — which has infuriated Congressional Republicans — will extend the debt limit for three months (which will become six months after Treasury raids other government funds to allow even more debt). In doing so, they have rubber-stamped budget deficits that are surging back towards $1 trillion, and a national debt that is on a calamitous path to leap from $20 trillion to $92 trillion over the next 30 years. This deal surrenders what Washington truly needs: a debt limit showdown.” (09/07/17)