The real place to negotiate over spending and tax matters, including entitlements, is when you’re debating the budget resolution. That’s when we set our targets for spending and revenues.
Having a separate debt limit—I don’t think it has served much of a purpose. It certainly hasn’t brought about fundamental reforms in entitlements.
Wise words from Rudy Penner on the debt limit
Tue, 11 Feb 2014 02:24:00 GMT
“. . . I don’t think it has served much of a purpose.”
If I remember correctly, Thomas Sowell has argued that it actually does harm.