Clarifying the Debt Limit Issues

Last Friday I spoke at a conference at the Reagan Presidential library where over 50 currently serving members of Congress--including many new members--met to discuss the future. One of the big issues was the debt limit, which has already been the subject of partisan discussion and is now viewed as a key mechanism for the overall effort to reduce spending. Here is the best summary of the issue , prepared by J.D. Foster of the Heritage Foundation. It is short and very clear. Well worth reading.