Why a Debt-Ceiling Fight Is Good for the Country
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Jan. 8 (Bloomberg) -- Watch what he did, not what he says.President Barack Obama says he won’t agree to spending cuts inreturn for Republicans’ raising the debt ceiling. Yet he didexactly that in 2011. And he should do it again.
The debt ceiling ought to be raised because nobody has aplan to eliminate the deficit immediately, and there is nopopular support for doing what that would take. A congressmanwho isn’t presenting and supporting a zero-deficit-now plan hasan obligation to give the federal government the additionalborrowing authority that continued deficits make necessary.