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
- Richard Hofstadter’s insights into the "paranoid style in American politics” lauded in the NYT
- NYT History Book Reviews: Who Got Noticed this Week?
- Researchers have discovered a previously unknown 149-page manuscript defending homosexuality.
- What Counts as Historical Evidence? The Fracas over John Stauffer’s Black Confederates
- Israeli journalist-turned-biographer, Shabtai Teveth, is remembered for his attack on the New Historians