Robert Rubin on the Debt Ceiling

http://www.futureofcapitalism.com/2011/05/robert-rubin-on-the-debt-ceiling

The Washington Post has an interview with the former chairman of the executive committee of Citigroup, Robert Rubin, who also served as Treasury secretary in the Clinton administration. The Post asks: "Do you think we should have a debt ceiling at all?" Mr. Rubin replies, "No, it's an anachronism."

The natural follow-up would have been to ask Mr. Rubin whether he feels that Article 1, Section 8 of the Constitution, granting to Congress (not the executive branch) the power "To borrow money on the credit of the United States," is also an anachronism, and if so, whether he favors its amendment.

More on the debt limit is here. More on Mr. Rubin is here and here.

Link via Economic Policies for the 21st Century.

by Editor  |  May 18, 2011 at 10:18 am Related Topics:  Government Spending receive the latest by email: subscribe to the free futureofcapitalism.com mailing list