The debt ceiling is over—finally. But what was missing in all of the partisan bickering?
Front and center should have been reduced spending, or at the very least a spending freeze—and it did occur to an extent. Entitlement reform was hardly discussed, even though other reforms like work requirements were included, reducing the long-term burden of welfare spending while getting Americans back to work.
Still, today’s Congress is a case study in short-termism. The long-term trajectory of the debt and America’s broader economic health depends on one thing: If we’re able to have a growth-minded, dynamic economic strategy, regardless of the theatrics that come with the debt ceiling debate every so often. It remains a big “if.”