I know…I can’t bear to go into it either. But just because we’re still flirting with the idea of going over the fiscal cliff doesn’t mean we shouldn’t start getting nervous about the next trap Congress is contemplating setting for the American economy. Really, with policy makers like these, who needs national enemies?
So, let me hand the reins over to Crystal Ball, who provided a wonderfully entertaining rant on this on the Cycle today, and to the NYT, which posted an excellent editorial on the debt ceiling’s increasingly nerve-wracking relation to the cliff debate.
Here’s some good advice from that piece:
Mr. Obama said firmly on Wednesday that he had no intention of playing the Republican debt ceiling game again. This time he might want to enlist the help of every American who holds federal, state or municipal bonds, investments that would be under threat in a debt crisis. If nothing else works, he should cite the 14th Amendment’s ban on questioning the public debt, and declare an end to the debt ceiling once and for all. The country can no longer tolerate government by brinkmanship and extortion.