Morning Bell: In Debt Limit Debate, Higher Taxes Aren’t the AnswerThe Foundry: Conservative Policy News Blog from The Heritage Foundation

Morning Bell: In Debt Limit Debate, Higher Taxes Aren’t the AnswerThe Foundry: Conservative Policy News Blog from The Heritage Foundation: "Republican congressional leaders will meet in the White House today with their Democratic counterparts and President Obama in an effort to reach an agreement on the debt ceiling. Reports are sketchy as to whether they will succumb to arm-twisting by the White House, amplified in the media, to cut a deal in which “everyone has to give a little”—or fill your preferred cliché. It is thus an appropriate time to remind everyone that Americans have already given all they can, especially to the IRS, and, no, it isn’t time to raise taxes—on the contrary, it’s time for politicians to curb their spending habits.

But just in case dire warnings about defaulting on the debt don’t work and the Republican leadership holds its ground today, a small team of Treasury officials along with friends of the White House are carving out a Plan B ploy to borrow more money on its own authority. It is based, to be charitable to its originators, on a dangerously flawed reading of the 14th Amendment."

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