Once again, Lisa Benson demonstrates how her lack of higher education has left her utterly ignorance of what the debt ceiling is and how it works.
Republicans are just following the Trump playbook: run up massive debts and refuse to pay when the bills come due. Stiff the creditors. It is the economic foundation of today’s TrumpubliQan party of Trump.
The debt ceiling is not a limit on incurring debt; it is a limit on paying back debts we have already committed to. No other industrialized nation has a fixed-dollar statutory debt ceiling similar to how ours is structured (several have nominal debt ceilings, but they are self-adjusting based on GDP or other fluid conditions).
It would be like me imposing a wholly-fabricated, artificial “debt ceiling” and then refusing to pay any credit card bills that exceeded my made-up “limit” — you can imagine what that would do to my credit!
Control of debt should occur at the time debt is incurred, not at the time when the bills come due and it is time to pay them.
Once again, Lisa Benson demonstrates how her lack of higher education has left her utterly ignorance of what the debt ceiling is and how it works.
Republicans are just following the Trump playbook: run up massive debts and refuse to pay when the bills come due. Stiff the creditors. It is the economic foundation of today’s TrumpubliQan party of Trump.
The debt ceiling is not a limit on incurring debt; it is a limit on paying back debts we have already committed to. No other industrialized nation has a fixed-dollar statutory debt ceiling similar to how ours is structured (several have nominal debt ceilings, but they are self-adjusting based on GDP or other fluid conditions).
It would be like me imposing a wholly-fabricated, artificial “debt ceiling” and then refusing to pay any credit card bills that exceeded my made-up “limit” — you can imagine what that would do to my credit!
Control of debt should occur at the time debt is incurred, not at the time when the bills come due and it is time to pay them.