Rep Schweikert discusses his Debt Ceiling Alternative Bill
July 13, 2017
In The News
This legislation is a tool of responsible debt management, once the debt ceiling is reached. Once enacted, the Secretary is required to issue GDP-linked bonds (“trills”) to pay the principal and interest on the public debt. This authorizes the President to rescind certain unobligated balances, estimated to be over $900billion, in addition to selling off mortgage-related assets.