(10-05-2021, 10:35 AM)americus 2.0 Wrote:

(10-05-2021, 06:09 AM)The Real Marty Wrote: They should do away with the idiotic concept of a "debt ceiling."  All that would be accomplished by not extending the debt ceiling is that we would not pay for things we already bought. 

It's as if I decided to cut down on my spending by not paying my credit card bill.  The problem is the deficit spending.  Not paying for the deficit spending doesn't accomplish anything good, and would wreck the economy.

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Because if the government refuses to pay its bills, the economy will be wrecked.  That would actually increase the deficits by massive amounts, by destroying the credit-worthiness of the United States.

If we don't want to pay for stuff, we shouldn't buy stuff.  But when we've already bought it, we'd better pay for it, or we will have some extremely serious problems.

The problem here is they want to keep spending/buying.