Debt Ceiling Redux?

Debt Ceiling Redux? YaleGlobal. James Leitner and Ian Shapiro. February 20, 2014.

U.S. Congress raised the artificial debt ceiling to pay bills without a fuss, but the move may galvanize extremists who want to slow government spending, explain James Leitner. Economists around the globe agree the United States should slow spending and reduce debt, but oppose the crude approach that would destabilize the global economy and hike interest rates. According to the authors, the law may be unconstitutional because it forces government to prioritize spending already approved by Congress, a not-so-transparent backdoor way to eliminate popular programs opposed by conservatives. [Note: contains copyrighted material].

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