Opportunity binge

Opinion | Debt Limit Presents a Useful Opportunity for Compromise

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Sept. 26, 2021 12:55 pm ET

Congress, Raise the Debt Limit” (op-ed, Sept. 20), writes Treasury Secretary Janet Yellen, but why not tie that to a bipartisan agreement to restrain spending? The message would be: “Democrats, reduce your reckless spending.” A good-faith gesture would be for Democrats to stop stampeding toward a $3.5 trillion reconciliation bill and instead negotiate provisions with Republicans in recognition that the political split in the Senate is 50-50.

Washington’s spending binge last year was a response to a once-in-a-century pandemic, yet the Biden administration and Democrats in Congress treat it as a new normal. Instead of keeping the spending pedal to the metal, why not ease up and at least coast, if not tap on the brakes, for a while? If congressional Democrats would agree to a spending slowdown, there is little doubt that Republicans would back away from a suicidal brush with default.

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