The General Assembly’s vote to reduce the debt of a capital projects program is even more commendable considering what happened to the national debt limit – nothing. After weeks of political stalemate between President Obama and a polarized Congress, the federal government now has no debt limit until the arbitrary date of February 7. Whatever our debt rises to above $16.7 trillion, the last approved debt limit, that’s where it will stay until Congress votes to either raise or lower it, according to fiscal experts.
Move to a regulatory scheme-based on sound science. Use cost-benefit analysis in developing regulatory language.