How sane people would tackle the debt-ceiling crisis

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If lawmakers decided they were actually in no shape to drive and handed the car keys to Bill McBride, the respected economics blogger, here’s what he says he — and many other analysts and economists — would do.

  • Eliminate the “superfluous” debt ceiling. Congress has already approved the expenditures that require us to borrow.
  • Pass a continuing resolution to head off the impacts of the sequester.
  • Do something about health care. Not a problem yet — as the economy improves, the deficit will not be a problem in the short term — but adjustments to spending and revenue will be needed to make it through the long term.