Economics Expert On Debt Ceiling

Former Sen. Phil Gramm, the Texas Republican synonymous with many of the biggest fiscal fights of the 1980s, appeared before a Senate Finance Committee as an expert witness last week on the shortcomings of budget enforcement mechanisms — some of which he designed and Congress is now reconsidering as part of an upcoming debate over raising the federal debt ceiling.

A former economics professor from Texas A&M, Gramm said his 1985 bill to limit federal spending was an amendment to a bill increasing the debt limit from $1.8 trillion to $2 trillion — a fraction of today’s debt.

Read more: www.politico.eom.

About Karen Olson

Information Professional with twenty years experience in legal, public record, and business research. Fifteen years law firm experience.

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