" It has been raised numerous times in the past, by presidents on both sides of the aisle."
Exactly!
On the other hand you say "it isn't sustainable"......so when do we stop?[/quote:c3a012dcef]
When it doesn't cause default. The issue is the default. Not the spending. It will be the default that causes the biggest issues. Default allows our lenders to raise interest rates and immediately call in loans in some cases. This is what causes many people to end up in bankruptcy.
Secondly, I wish to ammend my previous statement. The president doesn't raise the debt ceiling, Congress does. Therefore: "It has been raised numerous times in the past, by Congresses on both sides of the aisle."
This post was edited by Ryan - WI at 07:38:57 07/23/11 2 times.
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Today's Featured Article - Tractor Profile: Allis-Chalmers WD45 (Gas Version) - by Staff. Beginning production in 1953, the WD45 had the same general look as the WD tractor which was produced earlier - but was much more powerful. This was due to the new 4-cylinder "Power Crater" gasoline engine with a 4 x 4-1/2 inch bore and stroke. Some people feel this was one of the most significant tractors offered by Allis-Chalmers in those days. Nothing in its weight or power class could match its performance. In 1954 they began offering the WD45 with the new "Snap-Coupler&quo
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