On Bloomberg TV, “Political Capital” host Al Hunt asked Geithner if he believes “we ought to just eliminate the debt ceiling.”
“Oh, absolutely,” Geithner said.
On Bloomberg TV, “Political Capital” host Al Hunt asked Geithner if he believes “we ought to just eliminate the debt ceiling.”
“Oh, absolutely,” Geithner said.
Back when I was studying economics during the time Canada was being downgraded by lenders, an economic prof said “Canada should just default on its loans.”
I said that’s crazy no one would lend Canada money again.
Exactly said the professor.
It took me a few years to really get the point.
Sad to watch the decline. And it was such a grand experiment.
Does anyone know how difficult it is to learn Mandarin?
“What could go wrong?”
Forward!
Gotta agree with Geithner on this one point. From my view, the debt ceiling has not placed the slightest restraint on the spending of the US government. All it seems to do is occasionally (and lately more frequently) put Washington into a political tempest.
What a debt ceiling does is focus the American public’s attention for a brief period of time on just how much debt the USA is piling up and how government spending is so out of control. Of course government guys like Geithner & company don’t want that scrutiny and want the ceiling eliminated.
What a debt ceiling does is focus the American public’s attention for a brief period of time on just how much debt the USA is piling up and how government spending is so out of control. Of course government guys like Geithner & company don’t want that scrutiny and want the ceiling eliminated.
We can always print more money to pay it! What could possibly go wrong?
I wonder how many states are going to quietly set up their own mints in the near future?
dastardly: “What a debt ceiling does is focus the American public’s attention for a brief period of time on just how much debt the USA is piling up and how government spending is so out of control”
A federal budget would do that, too. That’s why there hasn’t been one in four years.
If US lawmakers were subject to the rule of law then the debt ceiling would make sense for many reasons. As the PUTZUS seems to get away with anything the debt ceiling is nearly useless. Remember, in Canada we don’t have one.
For those commenters here and on the link that ‘agree with Geithner’:
You could be right, I am no economist, and struggle to balance my books, so what do I know from money?
But I get the distinct impression everytime I see a vid of Geithner that he has no clue what he is taliking about, and that he is petrified poopless that he will get asked a direct question requiring a direct answer. He obfiscates like the rest of them, blabbers on with purple piffle and really*looks*scared.
“As of November 2008, unofficial figures put Zimbabwe’s annual inflation rate at 516 quintillion percent, with prices doubling every 1.3 days.”
With luck,the U.S. will surpass these amateurs fairly soon.
I can’t wait to buy a Harley for $2 Cdn.
And a Leupold Vari-X 3 ,and a….!!!
eliminating the debt ceiling would erase the need to cut gubmint spending, and tank the dollar into the negative, if that’s possible
what these As*holes need is to learn the basic rule, the value of currence is supported by ACTUAL work done, and welfare (plus other entitlements) ain’t work done!!!!
You can pretend a debt ceiling does not exist ,but eventualy it falls on you. THis debt is not monopoly money ,nor is the debt that is owed by America by most of Countries shes borrowed from . One day it will be called in. Than what do you do? You can only pretend a wolf does not exist until it becomes hungry.