First, congratulations to both Kevin McCarthy and Joe Biden on the debt ceiling deal. The Senate and House need to pass this deal whether they like it or not. There just is no time left.
The most important part of the deal is it will last for 2 years. Dana Obeidallah from CNN writes that for Democrats who don’t like the deal, some things could be reversed if they win back the House in 2024, and still have a Democratic president.
Even better would be win back the House in 2024 and get rid of the debt ceiling.
Stay tuned,
Dave
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Under our constitution, the federal government cannot borrow money unless authorized by congress. That is a good rule. It gives congress control over spending. We should keep it that way..
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