Democrats Introduce Bills to Abolish, Reform Debt CeilingEpoch Times, United States politics | The Epoch Times

Frustrated over Republicans stonewalling their efforts to raise the debt ceiling, Democrats in the House have introduced two bills that would abolish the debt ceiling or significantly reform it by placing it largely out of Congress’ jurisdiction. The two bills were introduced by Rep. Brendan Boyle (D-Pa.) and contain two separate approaches to the debt ceiling. Option A: Abolish the Debt Ceiling Altogether The first of the two brief bills contains only two lines: “A bill to repeal the debt ceiling,” while the second declares any standing law relating to the debt ceiling repealed. For much of U.S. history, no such thing as a debt limit existed, but it slowly came about as a congressional assertion of authority over the president. Before 1917, Congress could approve individual loans or individual methods to be used by the Treasury, but often lending and spending was left to the president’s own discretion. After …Read More

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