Democrats Introduce New ‘Retractable Debt-Dome’ Alternative to Traditional Debt Ceiling

Reid and Obama 4

WASHINGTON — On Wednesday morning, congressional Democrats introduced the basic foundations of a new piece of legislation called the “Retractable Debt-Dome Plan,” described by its creator Senator Tom Udall (D-NM) as “an immensely complicated feat of legislative architecture.” The Dome plan is meant to provide a modern solution to the antiquated problems of debt limits, one that “is as evolved as the…