Reply to McConnell is refusing to pay back debt that GOP raked during Trump presidency

Forum Index » Political Discussion

Reply to "McConnell is refusing to pay back debt that GOP raked during Trump presidency "

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Serious question- why do we even have a debt ceiling? It's been raised multiple times now. Clearly nobody takes it seriously as far as spending is concerned, so maybe they should just get rid of it altogether? [/quote]

There’s no debt ceiling in the Constitution, it’s statutory. Congress established the debt ceiling after WWI to encourage fiscal discipline. It didn’t work. [/quote]

It wasn't done for fiscal discipline reasons.  It was done to make it easier to pay. 
[/quote]

How does establishing a debt ceiling make it easier to pay?  It makes it harder to pay. [/quote]

Back in the day there needed to be a vote to authorize each tranche of treasuries.  The debt ceiling allowed Treasury to sell them on their own.

[/quote]

Wrong. The debt ceiling was meant to enforce fiscal discipline.

https://www.investopedia.com/terms/d/debt-ceiling.asp[/quote]

Investopedia is good for a lot of things.  Century old historical intent is not one.  It's wrong.

https://historynewsnetwork.org/article/181258

[/quote]

History News Network is not good for many things at all.

https://en.wikipedia.org/wiki/United_States_debt_ceiling[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics