Harrop: Can we skip the debt-ceiling debate this year?
Nothing like a debt-ceiling brawl to raise the public’s anxiety levels. The Republican threat two summers ago to let America default on its borrowing helped lower America’s credit rating and sent consumer confidence back into intensive care. The people were not amused.
Consumer confidence dove again this month, as shoppers feared a jump over the “fiscal cliff” would undo their economic gains. We refer to the deep spending cuts and tax hikes that Republicans agreed to as a condition of their not sending the United States into default.
As the parties wrestle over these numbers, which would pull massive amounts of money out of a still-delicate economy, Republicans insist on bringing in the brass knuckles of another debt-ceiling fight. They should desist for America’s sake, and for theirs.
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