The federal government creates an inflection point every time it hits the debt ceiling.
The decision to raise it, by how much, and for how long, confronts Congress with a turning point at that moment in the nation's politics. Regardless of one's views about the direction Congress should take today, everyone should agree that the nation's present fiscal course is unsustainable.
The upcoming debt debate gives members of Congress, and the people they represent, an opportunity to consider their options and to chart a new course. As part of that debate, members in the House and Senate should leverage the debt ceiling to enact much-needed policy and process reforms.
Not surprisingly, this is easier said than done.Read More