President Obama says failing to raise the debt limit will “force the United States to default on its obligations.” Sen. Rand Paul contends “there’s no reason for us to default.” Who’s right?
This is another in our series of regular quarterly updates of key statistical indicators of the Obama presidency. Our intent is to provide accurate measures of what’s changed — for better or worse — since Obama first took office in January 2009.
Using a more accurate cost-of-living adjustment for federal benefit payments and tax brackets would cut the federal deficit by perhaps $300 billion over the next 10 years. But it faces opposition from both right and left. Economists generally agree …