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Not raising the debt ceiling != default. I'm not sure why the talking heads don't get that. Plus, at some point you have to ask, where does it end? I have ye
by IanDrake 15y ago
Not raising the debt ceiling != default. I'm not sure why the talking heads don't get that. Plus, at some point you have to ask, where does it end?
I have yet to meet anyone that was helped in the long term by maxing out yet another credit card. But I've met many people who've been helped by curbing their spending and paying down debt.
- mikeash 15y agoIf you want to cut the deficit, the answer is obvious: modify the budget. It makes no sense to pass a budget saying you will spend X, which directly implies borrowing Y, and then a few months later decide you will not authorize that very borrowing you just authorized, and without any plan to deal with the difference. Where does it end? The answer to that is easy: it ends when a budget is passed where revenue and spending are more balanced. Trying to take shortcuts by playing games with the debt ceiling is a cheap trick that could be potentially disastrous.