The first thing they need to do is end the debt ceiling. From the prologue of my forthcoming book:
Debt ceiling debates will never be the same. There is no reason to expect that lifting it will be anything less than highlight of the 113th Congress unless one party controls the House, the Senate and the White House. Of course, 41 committed Senators could still wield massive political leverage if they were willing to blow up the tracks even if one party controlled all three levers of power. The incentive to use the debt ceiling lift as political leverage has been rendered ‘on limits’ for future Congresses. And since the debt ceiling is denominated in nominal dollars, it will have to be raised in the near future. For example, the Ryan budget plan if implemented would require the raising of the debt ceiling consistently over the next decade, with the nation’s cumulative debt reaching $21.1 Trillion in 2021.
Now, when both parties hope to control the House, Senate and the White House in the 113th Congress is the time to say no to the madness that was just wrought upon us. Bruce Bartlett is a voice of sanity on the issue.
