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Skating Close to the Edge, Again, on the Debt Ceiling
The New York Times: WASHINGTON — Here they go again.
As of Friday, the Treasury will no longer have the authority to issue bonds as necessary to pay the government’s bills. In a matter of weeks, the government could run out of cash and begin defaulting on some payments unless Congress acts to raise the official ceiling on the national debt. And once again, Congress is struggling to avoid a potential fiscal and economic train wreck.
But this fourth debt ceiling standoff in three years is taking place in an atmosphere of fatigue and caution rather than brazenness and conviction. A confrontational parliamentary tactic that came in with a bang might finally be exiting with a whimper.
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