In the News
Schwarcz proposes provocative fix for future debt ceiling crises
Professor Steven L. Schwarcz has outlined a way for the Executive branch to bypass Congress in case of another debt ceiling impasse. In Bypassing Congress on Federal Debt: Executive Branch Options to Avoid Default (forthcoming 2014, Yale Journal of Regulation), Schwarcz proposes that the President securitize future tax revenues to avoid a default disaster.
In National Constitution Center Another option for avoiding a debt ceiling disaster