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    Senate Debt Ceiling Bill Includes 10 Pages of Nonsense

    Last night Congress passed a bill (the Default Prevention Act of 2013) to suspend the debt limit until February 7, 2014. The bill was then signed into law by the President. There are a variety of policy reasons why suspending the debt limit is fiscally irresponsible. The Default Prevention Act … More

    Moody's on Debt Limit: Calling Obama's Bluff on Default

    A voice of reason emerged today among the doomsday predictions over a U.S. government default if the debt limit is not raised by mid-October. The Washington Post reports that Moody’s, a top credit rating service, suggested that hitting the debt limit does not mean the U.S. would default: “We believe … More

    Obama Needlessly Scares Seniors: Social Security Checks and the Debt Limit

    President Obama is needlessly scaring seniors by suggesting that their Social Security benefit checks may not arrive on time if the U.S. runs out of borrowing authority at the debt limit. The 57 million Americans who receive Social Security benefits should know that their benefits will not be affected—unless President … More

    Without Reform, Entitlement Spending Poses a Default Risk

    The Obama Administration argues that failure to raise the debt limit would lead to a default on federal debts, causing unacceptable harm to the economy. But the President has ample discretion to prioritize debt payments and avoid default. The President has failed to address the more fundamental risk of default: … More

    61% of Americans Want Spending Cuts Before Debt Limit Is Raised

    A clear majority of Americans believes that imposing a firm limit on borrowing with spending cuts is the only chance for Congress to kick its gluttonous spending habit. A recent poll released by Bloomberg shows that the majority of Americans oppose President Obama’s demand that Congress raise the debt ceiling … More

    The United States of Argentina?

    Is President Obama channeling Juan Perón? The President does seem to have a few things in common with the political descendants of the late Argentine dictator. For example, due to ongoing lawsuits stemming from Argentina’s still unresolved $100 billion sovereign debt default in 2001, Argentina’s current president, Peronist Cristina Fernández … More

    Morning Bell: "Default" Is a Red Herring in Debt Ceiling Debate

    Yesterday, President Obama accused his opposition in Congress of threatening to “default” on America’s loans in order to make a political point. I am not going to have a monthly or every three months conversation about whether or not we pay our bills because that in and of itself does … More

    Obama's Press Conference: Debt Ceiling Spin

    President Obama referred repeatedly to the debt ceiling debate in today’s press conference in a textbook example of Washington “spin,” or the art of selectively ignoring certain facts while portraying others in a particular light. “You don’t go out to dinner and then, you know, eat all you want and … More

    Debt Ceiling: Default Not at Issue, Federal Spending Is

    President Obama is expected to make his case for a debt ceiling increase at a press conference this morning. The development comes as House Republicans are reportedly weighing “default” and “government shutdown.” While it’s encouraging that conservatives are gearing up for a fight, it’s important that policymakers and the public … More

    Washington in a Flash: House Leaders Look for Votes on Boehner Debt Plan

    Unable to secure the votes needed to pass Speaker John Boehner’s (R-OH) debt plan, House GOP leaders first delayed then canceled a vote on the Budget Control Act last night. The House could take up the measure today, but many conservatives and Tea Party activists remain strongly opposed to the plan. All eyes … More