Summary
We don't know if we buy into the number thrown down by John Boehner -- he wants "trillions" in budget cuts before Republicans agree to raise the federal debt limit -- but we have no problem with the House speaker throwing down a marker. If this isn't the time to get serious about reducing the federal deficit, when is?
Under the pressure of two wars, a fiscal stimulus, rising health care costs and other spending, the federal government is about to crash into its debt ceiling -- the maximum indebtedness the government can carry. Without an increase, the nation could default on its debts -- with catastrophic economic consequences. As unappetizing as the prospect is, the increase in the debt limit is essential.See the full content of this document
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Limit
But the nation also needs to bring its spending under control. Our indebtedness has reached a level that de...
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