[dont_tread_on_malik]

They should really hire Mr. Rivkin to some kind of consultant for the GOP party, if he could do that. He always makes sense, even when some are embarrassing the party. Thank you, Mr. Rivkin, for another thought-provoking piece.

[DManA]

Not sure I get this. Is it that they can borrow only to refinance bonds that are expiring?

[glorgau]

“The increase can be used only for borrowing to service existing obligations.”

Then everything else besides debt service would go "off budget". Better to let the government combine begin to live off it's own internal fat stores. i.e. diet.

[capt. norm]

If they did it that way, the Obama bunch will not be able to pile on new debt.

That would pretty much stop his spending spree.

[phockthis]

So, basically they must pay our debt first before anything goes to Obama’s agenda...