Posts Tagged ‘Mitch McConnell’

The Illogic of the McConnell Debt Limit Rule

In the aftermath of the recent government shutdown and the painful negotiations that brought the country perilously close to defaulting on government debt, policy experts are searching for a way to avoid a replay of this crisis. After all, the recent congressional agreement only delays the next potential shutdown till January 15 and lifts the […]

A Summer Update on Tax Reform

Over the past week, Washington has been filled with news about tax reform—some reflecting necessary but painful truths and some just bad. In no particular order, here is where reform stands as Congress leaves town for its extended summer vacation: Big rates cuts are very expensive. The congressional Joint Committee on Taxation estimated that Congress would […]

Five Reasons Why the Deficit Super Committee Failed

To the surprise of few, Congress’ super committee is on the brink of failure–unable to agree on $1.2 trillion in budget savings as required by last summer’s debt limit deal. But the panel was doomed from the start. Here are five reasons why: The parties could not bridge their theological differences. Mainstream Democrats believe government should play an important role in the […]

Debt Limit Madness

Let me see if I have this right: Senate Republican Leader Mitch McConnell (R-KY) has effectively embraced the debt limit plan first offered months ago by President Obama. Under the McConnell/Obama scenario, Congress would extend the government’s borrowing authority through next year without agreeing to a dime’s worth of spending reductions or tax increases. As […]