08-08-2011, 08:30 AM
The President has yet to sign a bill to raise the debt ceiling, but now that the bill has passed the House, the odds are pretty likely the measure will become law. The debate over the last few weeks reminds me of the immigration debate. Public opinion polls clearly tell us that most Americans basically agree on the best approach to addressing debt - mix spending cuts while rolling back the Bush tax cuts for the wealthy and closing corporate tax loopholes. We know, however, that the opinion of the majority doesn't matter - just the opinion of a small...