" 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 - Memories of an IH Super A When I was ? up to 10, I worked on my Papaw's farm in Greeneville, TN every summer. As I grew older (7), it was the thrill of my day to ride or drive on the tractor. My Papaw had a 1954 IH Super A that he bought to replace a Cub. My Papaw raised "baccer" (tobacco) and corn with the Super A, but the fondest memory was of the sawmill. He owned a small sawmill for sawing "baccer" sticks. The Super A was the powerplant. When I was old enough (7 or 8), I would get up early and be dressed to
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