COLUMNS
Two sentences that should be part of every discussion of the debt ceiling
Pat Cunningham
James Fallows NAILS IT:
1) Raising the debt ceiling does not authorize one single penny in additional public spending.
2) For Congress to “decide whether” to raise the debt ceiling, for programs and tax rates it has already voted into law, makes exactly as much sense as it would for a family to “decide whether” to pay a credit-card bill for goods it has already bought....