Tom Rich, Editor-in-Chief Welcome to the Roundtable, Torchlight’s discussions of news and events. This week gave us all a little whiplash as President Trump reached an agreement with Congressional Democrats to extend the debt ceiling until December, rejecting an 18 month proposal by Congressional Republicans. The President also suggested that he was willing to work
As the media and the public awaited the next steps in the Republican party’s efforts to overturn the Affordable Care Act, we got the political equivalent of a “Coming Attractions” trailer for the next big thing in Congress: the debt ceiling. At a June 9 press conference, Treasury Secretary Steven Mnuchin spoke about resorting to
Given the intransigence of the Freedom Caucus in the House, it seems likely that we may see the return of the “debt ceiling” or “debt limit” to news headlines this year. Here’s a stripped-down summary of the concept; there’s a lot more detail available from Wikipedia, of course, but this should save you some digging.