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The government can easily increase their operating cash balance simply by incurring more debt. Except, and this is the whole reason that we currently have big
by hugh3 15y ago
The government can easily increase their operating cash balance simply by incurring more debt.
Except, and this is the whole reason that we currently have big problems, the Government currently can't legally incur more debt, unless Congress passes an increase to the debt ceiling. So cash-on-hand is currently a serious issue.
- jodrellblank 15y agoAnd so trillion dollar changes to a major world economy of 310 million people are made by last minute bickering. It's boggling.
- prodigal_erik 15y agoYeah, it's a titanic game of chicken between the dominant parties. As The Economist put it, "biggest unforced error in history still on schedule". http://www.economist.com/blogs/freeexchange/2011/07/democracy-america http://www.economist.com/blogs/freeexchange/2011/07/democrac...