The Debt Ceiling Abroad
-- Posted by Neil H. Buchanan I am in the airport in Tokyo right now, returning home after two-plus weeks abroad. Last night, I gave a talk to the Japan Tax Association, explaining the debt ceiling situation and the various arguments that Professor Dorf and I have offered in our writings. (There was an interpreter, who would translate after every sentence or two. The stop-and-go nature of that format was an interesting experience, to say the least.) The Q&A there, like the Q&A after I delivered a similar lecture last week at the Australasian Tax Teachers' Association in Brisbane (Australia), alternated between polite versions of "What the hell is going on over there?!" and "Why can't the courts solve it?" None of my answers satisfied anyone -- certainly not me. In a conversation before my lecture, I did learn that Japan's government, although structured as a parliamentary system, nevertheless nearly had a debt ceiling-like crisis very r...