Nothing better shows, well OK really there's plenty, the bankruptcy of American politics than the once again empty threat of fiscal rebels in DC to quit paying the bills. Oxymoronically, the US Treasury writes the debt ceiling or debt limit “allows the government to finance existing legal obligations that Congresses and presidents of both parties have made in the past.” The limit is no limit, just the opposite, its an indulgence for further spending. Don't worry, it gets better.
Debt Ceilings and Other Money Fantasies
Debt Ceilings and Other Money Fantasies
Debt Ceilings and Other Money Fantasies
Nothing better shows, well OK really there's plenty, the bankruptcy of American politics than the once again empty threat of fiscal rebels in DC to quit paying the bills. Oxymoronically, the US Treasury writes the debt ceiling or debt limit “allows the government to finance existing legal obligations that Congresses and presidents of both parties have made in the past.” The limit is no limit, just the opposite, its an indulgence for further spending. Don't worry, it gets better.