Five Lame Duck Threats to Avoid

Romina BocciaNow that the midterm elections have passed, members of Congress are back in Washington and up to no good. Congress punted on appropriations which they were supposed to finish before September 30th, by kicking the deadline into the middle of the lame duck. That continuing resolution is set to expire on December 16th, after which date the federal government would partially shut down.There ’s a huge slate of issues that could get tacked onto that “must-pass” bill that threatens taxpayers with trillions of dollars in new spending. And there’s a simple solution.Punt on appropriations bills once more and kick the deadline out of the lame duck into the new year.Here are five reasons why Congress should not legislate during the lame duck unless it is absolutely necessary (as in responding to an unexpected, sudden emergency that demands urgent action):Congress might lift or eliminate the debt limit without first stabilizing the debt, rattling investors and increasing inflation expectations.According tonews reports, some Democrats are advocating for raising or even eliminating the debt limit before Republicans take control of the House of Representative next year. The U.S. debt is already so high that itdrags down economic growth and it is growing at an unsustainable rate. With publicly held debt projected to grow to260 percent of GDP over the next 30 years, there is a real possibility of a fiscal crisis within this generation, during which investors would lose con...
Source: Cato-at-liberty - Category: American Health Authors: Source Type: blogs