Tax Cuts Didn’t Lay the Federal Debt Trap

(Maksym Kapliuk/iStock/Getty Images)
The real culprit is federal overspending.

NRPLUS MEMBER ARTICLE I t’s that time of the year again when the debate over raising the federal debt limit is back in the news. Indeed, just three weeks ago, U.S. treasury secretary Janet Yellen suggested that we’d reach the limit by sometime in mid December. Of course, the U.S. House of Representatives just voted to raise the debt ceiling by another $480 billion back in October. For those keeping score at home, that was the 21st time that the debt ceiling has been raised since the last federal budget surplus — which was in 2001.

The Wall Street Journal editorial board recently published a

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