We need to change the way the debt limit works
2:20 PM 07/27/2011
Fiscal conservatives need to find a way to restrain spending over the long term. It’s too late to do that before August 2, so Republicans should pass a short-term debt limit increase that allows them to create an effective restraint on spending sometime in the future. The president says he’ll veto a short-term increase, but that’s probably a negotiating position on the way to signing a compromise bill.
