Gauge our ‘ability to handle’ the debt by considering it in relation to the size of the economy.
Now that the Republicans have postponed the
debt-ceiling debate, they’ve bought themselves some valuable time. If
they use it wisely, they’ll discover a new strategy for handling the
federal debt — a strategy that’s not just better for their party, but
also better for the whole country.Warren Buffett, in a recent interview on the CBS “Sunday Morning” show, revealed the kernel of an idea for what could be a new basis for managing the debt ceiling. The policy would spring from a basic principle: when a game isn’t winnable, one should change the rules. The political game of threatening not to raise the debt limit is unwinnable — whether it’s played by Republicans or Democrats. So it’s time to change the rules.
Read more: http://www.american.com/archive/2013/february/a-winning-strategy-on-the-debt-ceiling-courtesy-of-warren-buffett
1 comment:
I am sure that the US should cut spending and stop making debts. It’s necessary to manage debt ceiling and set realistic limits. Living in debt can’t last forever and it’s time to set a healthy budget and try to live within our means. All the reports and experts say that Americans spend more than they earn and that’s why they are so in debt. I think that Barack Obama should make all the necessary efforts to change the situation into the better and stop the debt fever. It’s important to manage the export and create new jobs because there many people living through online no fax payday loans and they would be glad to find decent work places and earn money to provide their families without a need of getting in debt.
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