Debt Ceiling + Constitution = Tax Increase?
-- by Neil H. Buchanan In my new Verdict column , I reluctantly return to the trenches of the debt ceiling wars. Although people might reasonably have imagined that the debt ceiling is " so 2011 ... or 2013 ... or, at worst, soooo thirteen months ago," in fact it will come back to life next Monday, setting in motion yet another round of " extraordinary measures " that will run out late in the summer, just in time for another game of fiscal brinksmanship that could simultaneously also involve the threat of another government shutdown and the return of "the sequester," on top of a first-ever government default. Good times. One might have thought that, by now, even the most ardent conservatives would finally have realized that using the debt ceiling to take the economy hostage is bad economics, bad law, and even (by all available evidence) bad politics. However, as long as some Republicans believe that they are morally required to threaten to destro...