Once upon a time in Washington, D.C., a compulsive liar was in charge of the local government, the city's legislature was beyond dysfunctional, and the District had debt as far as the eye could see. Today, a similar situation has returned to Washington, but this time it is the federal government, not the D.C. government, that has lost control over its ability to manage its finances.
In 1995, a Republican-led Congress worked with President Bill Clinton to get the District back on track. They created the District of Columbia Financial Responsibility and Management Assistance Authority — better known as the “Control Board.” The Board arguably saved D.C. from an economic collapse. Could a control board for the federal government do the same for America?
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