Don’t raise the ceiling, lower the floor.
EWM - (July 15, 2011) Eyewitness Muse has learned that White House and congressional negotiators are nearing completion of a novel agreement that would bring an end to the impasse over raising the federal debt ceiling.
The plan would leave the current ceiling in place while lowering the floor from which the calculation of debt begins. Under the new accounting method, a substantial portion of the debt would be sequestered into a “sub-floor” and not counted when computing the total debt. This method would obviate the need to raise the current ceiling.
“It’s a bit deceptive,” noted a bitter, bleary-eyed staffer. “But it gets everyone out of this mess with their manhood intact…Return to latest entry
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