With the U.S. government stoking global economic fears as it faces yet another standoff over raising the debt ceiling, some economic analysts and lawmakers are proposing a relatively simple solution to permanently resolve this issue:
Just scrap the thing.
“I don’t think there’s any reason to have it exist anymore,” said Douglas Holtz-Eakin, former director of the Congressional Budget Office, who is the current president of the right-wing think-tank American Action Forum.
The biggest problem with the ceiling, said Holtz-Eakin and other observers, is that it has become so politicized, and a dangerous political bargaining chip that holds the economy hostage in order to extract political demands.
“Congress is increasingly willing to run with
