How Republicans Can Stop a Debt Limit Disaster
Mainstream conservatives first need to signal that they are ready to move on from empty symbolism.
Mainstream Republicans need to stand up to the radical faction.
Photographer: Olivier Douliery/AFP/Getty Images
With Treasury Secretary Janet Yellen’s announcement last week that the US would hit its borrowing limit Thursday and begin using extraordinary measures to avoid defaulting, we officially entered debt ceiling standoff season.
The good news is that the US has never been forced into default. The bad news? The one time it came close to happening has a lot in common with this year: a Democratic president, a Democratic majority in the Senate and a new Republican majority in the House. The worse news? Many House Republicans consider that 2011 episode a tremendous triumph and are seeking to repeat it.