Detail From Cliff to Ceiling; The Next Fiscal Fight   Oleh:  [s.n] Jenis: Article from Bulletin/Magazine Dalam koleksi: The Economist (http://search.proquest.com/) vol. 406 no. 8818 (Jan. 2013), page 10. Topik: Fiscal Policy; Politics; Legislation Ketersediaan Perpustakaan Pusat (Semanggi) Nomor Panggil: EE29.75 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada     Lihat Detail Induk Isi artikel America sidestepped one fiscal disaster at the turn of the year when Barack Obama and Congress agreed to keep most tax rates from rising. A much bigger one is as little as five weeks away, when the Treasury Department runs out of legal authority to borrow. Failure to raise the "debt ceiling", Mr Obama has warned, would force the government to default on its obligations. Republicans say they need some sort of leverage to drag a spendthrift president to the negotiating table. They have a point, but the debt ceiling is a dangerous tool with which to make it. The debt ceiling is a peculiarly American anachronism. Until a century ago, Congress approved bond issues one at a time. Between 1917 and 1941 it consolidated those approvals into a single debt limit. The result is that America's legislature can approve a budget that includes a deficit without approving the issuance of debt necessary to fund that deficit. Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Kembali

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