Taming the National Debt
Publication Date: May 1983
Publisher: Heritage Foundation (Washington, D.C.)
Author(s): Thomas M. Humbert
Research Area: Banking and finance; Economics
Keywords: Budget
Type: Report
Abstract:
Congress hates raising the federal debt ceiling. Yet, in the next couple of years, it faces the prospect of voting for debt hikes averaging some $225 billion annually. Congress may have to agree, in fact, to more new debt in the next six years than the total authorized debt in the entire history of the United States. If the past is any guide, these debt ceiling bills will provoke extremely hard fought, controversial, close votes.
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