By Tim Fernholz

National Journal

April 21, 2011

The proposal, released by the Bipartisan Policy Center, does not bridge the fundamental political differences that divide the two parties. But it might allow them to save face and punt the consequences of future disagreement to the next president.

The plan draws on the experience of former Senate Budget Committee Chairman Pete Domenici, R-N.M., who faced a similarly intractable divide over a borrowing increase in 1985 and ultimately bridged it with the budget process reforms that became known as Gramm-Rudman-Hollings.

"We just believe that it will be impossible to pass even a short-term increase," Steve Bell, Domenici's staff director at the time and one of the authors of the new plan, called SAVEGO. "An enforcement mechanism is going to be necessary, as an amendment to the debt bill, in order to get the votes."

Read the full article here

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Economic Policy Project