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WTH is Going On with the Debt Limit Fight? Brian Riedl on our Fiscal Future
It’s a tale as old as time… where will our next trillion come from to feed our hungry coffers? We jest, but only a little: Negotiations on raising the debt limit are ongoing, marking, ahem, dozens of times this has happened under both Democrats and Republicans. Neither party has been able to summon the wherewithal to sacrifice political clout for the good of the long-term economy. Take healthcare spending: Democrats promote top-down, regulatory spending, while Republicans support consumer-based choice and competition. Fine – but costs haven’t been fixed, efficiencies have not been produced…
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