House Republicans are finishing work on a new proposal to resolve the standoff over the debt ceiling. The proposal, set to be finished and crafted into the form of a bill by Sunday, will be in two parts. The first will combine a short-term increase in the debt ceiling with spending cuts. The second will lay the groundwork for a longer-term increase in the debt ceiling coupled with far-reaching deficit reduction.WA Examiner
Bankrupt sovereigns have to budget over shorter cycles because aggregate liabilities keep building up. Part 2 of the plan is really another two parts, a short term part and a long term part, repeat indefinitely.
I like it!
No comments:
Post a Comment