How Congress created the debt ceiling problemtags: deficits, debt ceiling, PoliticalWire, Josh Green, Taegan Goddard
Josh Green points out that in 1979, Dick Gephardt, "who would later become House Democratic leader and twice run for president, devised a simple fix that met the absurd requirement of a two-step process. With help from the House parliamentarian, he established the Gephardt Rule, which decreed that when Congress adopted a budget resolution (the first step) it was automatically 'deemed to have passed' a commensurate increase in the debt limit (the second step). Presto. Problem solved."...
comments powered by Disqus
- Martin Kramer blasts MESA and Steven Salaita
- L.A. schools adopt history curriculum from Stanford University
- Raleigh Trevelyan, Chronicler of a Notable Family, Dies at 91
- Former spokesman of B.C. anti-immigration group wants UBC history prof fired
- Harvard's Steven Shapin Wins History of Science Award