http://www.marketwatch.com/story/10-craziest-things-about-the-debt-ceiling-crisis-2011-07-25?link=MW_story_popular
WASHINGTON (MarketWatch) — For pure silliness, ridiculous ideas and crazy arguments, you can’t beat our current debate over whether we should raise the debt ceiling or throw the global economy into the toilet again.
Here are the 10 silliest, stupidest and most logically absurd things I’ve heard about the debt ceiling, in no particular order.
1.) First of all, the very idea of the debt ceiling is ridiculous. Like the human appendix, the debt ceiling is a vestigial remnant of history that does no one any good. You only notice it when it’s causing pain.
The debt ceiling does not provide a meaningful check on government spending. Congress does what it wants and then adjusts the debt ceiling to accommodate the deficits it votes for. If you want to control the debt, you should look to the budget, appropriations and taxation bills, not the debt ceiling.
. . . .
So what should Congress do? It’s pretty simple. Pass the increase in the debt ceiling so we can pay our obligations in full and on time. Then have lawmakers do their damn jobs: Talk, negotiate, bargain, plead, threaten, bluster, pontificate, legislate and cast votes until they’ve figured out in a transparent and democratic fashion how to stabilize our public debt at a sustainable ratio, setting spending, taxing and borrowing at levels that we can live with.
And then face the voters on Election Day.
Repeat as needed.
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Zim: Another interesting read.
Mad Poet Strikes Again.
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