"Don't Believe the Hype About U.S. Debt": Sally Kohn Says Increasing the Debt Is a Good Idea
Vice President Joe Biden met with congressional negotiators last Thursday to discuss ways to curb the federal deficit and permit new borrowing after August 2, the day the U.S. government is expected to reach its $14.3 trillion borrowing limit. Democrats want to curb the federal deficit by pushing for new taxes and eliminating many tax loopholes, while Republicans have called for steep spending reductions but no new taxes.