In his Freeman column today, Sheldon Richman argues that it won’t.
Remember the famous “Peanuts” cartoons where Lucy tells Charlie Brown that this time — unlike all the times in the past when she jerked the football away and he crashed on his back — she is going to play fair and let him actually kick the ball? Of course, she always jerks it away and has some funny explanation afterwards to poor Charlie Brown. The debt ceiling debate is like that. The politicians say, “This time it will be different — we’re going to control spending so we won’t have to keep borrowing more and more.” Of course, they go right on spending and piling up debt.
