Editorial Board
Democrats Can End the Debt-Limit Drama, If They Want
Yes, there’s plenty of blame to go around. But avoiding default is more important than making a point.
Just get it done.
Photographer: Drew Angerer/Getty Images
Few topics induce quite as much hysteria and hypocrisy as a debt-ceiling debate. This year’s is proving to be a doozy.
As the Treasury Department approaches its $28.4 trillion statutory borrowing limit, it’s been resorting to “extraordinary measures” to ensure the U.S. meets its obligations. It currently expects these measures to expire on Oct. 18 or thereabouts. If Congress can’t come to a deal by then, the country may well default and a financial crisis could ensue.