Monday, February 14, 2011

The nuclear option as a default option

Imagine that the United States had organized its nuclear arsenal in such a way that the missiles would automatically launch towards Russia, unless Congress stepped in every year or so and expressly voted to not launch them.

That would be pretty dumb, wouldn't it?

You might complain about the brinksmanship that it creates
, but the debt ceiling is first and foremost a failure of institutional design.

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