ICYMI: Why Congress Must Not Let the Debt Limit Crisis Go to Waste

Brookings Institution’s Stuart Butler writes:

“‘Must pass’ legislation to increase the debt limit has long been used as the vehicle to pass other urgent or controversial bills, including changes in fiscal rules that pushed Congress to tackle the drivers of debt. For example, the Balanced Budget and Emergency Deficit Control Act of 1985 (better known as Gramm-Rudman-Hollings) was an amendment to legislation raising the debt ceiling, and established a deficit reduction procedure using automatic “sequestration” if needed. Similarly, the debt ceiling crisis of 2011 prompted enactment of the Budget Control Act, which created a joint congressional “supercommittee” tasked with developing a 10-year deficit reduction plan….” 

Read more at https://www.brookings.edu/opinions/why-congress-must-not-let-the-debt-limit-crisis-go-to-waste/

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Topics: Budget & Appropriations
Tags: Stuart Butler