Geral
Some people may have been shocked when the credit-rating firm Moody's recently suggested that the debt-ceiling law be repealed, in order to avoid fiscal crises which can throw world financial markets into turmoil that can injure countries around the world. Anyone who wants to show that Moody's is wrong should be prepared to show the actual benefits of the debt-ceiling, not its goals or hopes. That will not be easy, if possible at all. . . .
The national debt-ceiling law should be judged by what it actually does, not by how good an idea it seems to be. The one thing that the national debt-ceiling has never done is to put a ceiling on the rising national debt. Time and time again, for years on end, the national debt-ceiling has been raised whenever the national debt gets near whatever the current ceiling might be.
Regardless of what it is supposed to do, what the national debt-ceiling actually does is enable any administration to get all the political benefits of runaway spending for the benefit of their favorite constituencies—and then invite the opposition party to share the blame, by either raising the national debt ceiling, or by voting for unpopular cutbacks in spending or increases in taxes.
- The Tea Party's Achilles' Heel
By YUVAL LEVIN AND PETER WEHNER, WSJ The tea party movement has been a profoundly positive force in American political life. It has recast the political debate to put the country's fiscal problems front and center, helped to drive a historic midterm...
- A Tea Party Triumph
Editorial do WSJ If a good political compromise is one that has something for everyone to hate, then last night's bipartisan debt-ceiling deal is a triumph. The bargain is nonetheless better than what seemed achievable in recent days, especially given...
- The Road To A Downgrade
Editorial do WSJ Even without a debt default, it looks increasingly possible that the world's credit rating agencies will soon downgrade U.S. debt from the AAA standing it has enjoyed for decades. A downgrade isn't catastrophic because global...
- Open Letter To President Obama On The Debt Ceiling Debate
Dear President Obama, As you are likely well aware, you and I have many fundamental philosophical differences. I have long believed in personal liberty and economic freedom. Despite the rhetoric that you may espouse, your actions imply that you believe...
- The Obama Downgrade
Editorial do WSJ So the credit-rating agencies that helped to create the financial crisis that led to a deep recession are now warning that the U.S. could lose the AAA rating it has had since 1917. As painfully ironic as this is, there's no benefit...
Geral
Thomas Sowell on debt ceiling
Some people may have been shocked when the credit-rating firm Moody's recently suggested that the debt-ceiling law be repealed, in order to avoid fiscal crises which can throw world financial markets into turmoil that can injure countries around the world. Anyone who wants to show that Moody's is wrong should be prepared to show the actual benefits of the debt-ceiling, not its goals or hopes. That will not be easy, if possible at all. . . .
The national debt-ceiling law should be judged by what it actually does, not by how good an idea it seems to be. The one thing that the national debt-ceiling has never done is to put a ceiling on the rising national debt. Time and time again, for years on end, the national debt-ceiling has been raised whenever the national debt gets near whatever the current ceiling might be.
Regardless of what it is supposed to do, what the national debt-ceiling actually does is enable any administration to get all the political benefits of runaway spending for the benefit of their favorite constituencies—and then invite the opposition party to share the blame, by either raising the national debt ceiling, or by voting for unpopular cutbacks in spending or increases in taxes.
- The Tea Party's Achilles' Heel
By YUVAL LEVIN AND PETER WEHNER, WSJ The tea party movement has been a profoundly positive force in American political life. It has recast the political debate to put the country's fiscal problems front and center, helped to drive a historic midterm...
- A Tea Party Triumph
Editorial do WSJ If a good political compromise is one that has something for everyone to hate, then last night's bipartisan debt-ceiling deal is a triumph. The bargain is nonetheless better than what seemed achievable in recent days, especially given...
- The Road To A Downgrade
Editorial do WSJ Even without a debt default, it looks increasingly possible that the world's credit rating agencies will soon downgrade U.S. debt from the AAA standing it has enjoyed for decades. A downgrade isn't catastrophic because global...
- Open Letter To President Obama On The Debt Ceiling Debate
Dear President Obama, As you are likely well aware, you and I have many fundamental philosophical differences. I have long believed in personal liberty and economic freedom. Despite the rhetoric that you may espouse, your actions imply that you believe...
- The Obama Downgrade
Editorial do WSJ So the credit-rating agencies that helped to create the financial crisis that led to a deep recession are now warning that the U.S. could lose the AAA rating it has had since 1917. As painfully ironic as this is, there's no benefit...