House using common sense on debt ceiling
In an unusual display of responsible governance, the U.S. House passed, with a minimum of drama, a relatively clean bill to raise the federal debt ceiling. This averted another embarrassing government shutdown like the 16 days last October.
Technically, Uncle Sam maxed out his credit limit of $16.7 trillion last Friday. By fancy fiscal footwork, Treasury Secretary Jack Lew postponed the day of reckoning when the government begins defaulting on its obligations until Feb. 27.
However briefly it lasts, an aura of something like common sense seems to have settled over the House chamber. Even Tea Party Caucus founder Michele Bachmann says, “There is a pragmatism here. You’ve got to know when to hold them and know when to fold them. My assessment is that most of us don’t think now is the time to fight.”
Encouragingly, Boehner flatly pronounced, “Look, we don’t want to default on our debt. And we’re not going to default on our debt.”
Hold that thought, Mr. Speaker.
-The Commercial Appeal, Memphis