By hnn
Josh Green points out that in 1979, Dick Gephardt, “who would later become House Democratic leader and twice run for president, devised a simple fix that met the absurd requirement of a two-step process. With help from the House parliamentarian, he established the Gephardt Rule, which decreed that when Congress adopted a budget resolution (the first step) it was automatically ‘deemed to have passed’ a commensurate increase in the debt limit (the second step). Presto. Problem solved.”…
Source:
PoliticalWire
Source URL:
http://politicalwire.com/archives/2013/01/17/how_congress_created_the_debt_ceiling_problem.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+PoliticalWire+%28Political+Wire%29
Date:
1-17-13
Source: FULL ARTICLE at History News Network – George Mason University