Discussion in 'Economics' started by libertad, Aug 7, 2009.
""It is critically important that Congress act before the limit is reached so that citizens and investors here and around the world can remain confident that the United States will always meet its obligations," Geithner said in a letter to Senate Majority Leader Harry Reid that was obtained by Reuters."
If we DON'T breach the debt ceiling, then we have a better chance that we will "always meet its obligations"
"The request to increase the debt limit will likely raise the ire of Republicans who have accused President Barack Obama of runaway spending. They may try to hold up the legislation in effort to win concessions on Obama's health care reform plan."
Umm, didn't the debt ceiling have to be raised twice just before the end of Bush's second term?
All money is debt.
In order to grow money supply, total debt must grow.
The "debt ceiling" is a just a political gimmick to sell the Sheep that "Congress is on the job".
Right. After all, we're not just printing money, "we've got a debt ceiling".... Haha. A debt ceiling which is routinely raised whenever necessary... never putting any restrictions on borrowing or spending.... other than perhaps the few days it takes sometimes to "officially" raise the ceiling.
Very true. Smoke and mirrors.
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