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Think the current debt limit fight is scary?It will be nothing compared to the next one.
At that big budget panel today (where Bernanke, Paul Ryan, and others were speaking) there was a broad consensus that any planned hike to the ceiling now WON’T get us through the 2012 election. That’s according according to the Committee For a Responsible Federal Budget, which sponsored the event, and has been tweeting out observations.
Think about that: Sometime in mid-to-late 2012, we’ll be experiencing the exact same debate, except the deficit will be higher, and the politics will be even more toxic, with elections perhaps just weeks away.
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