" 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 - Show Coverage: Godfrey, Illinois Country Days - by Cindy Ladage. Except for last fourth of July's Old Gold show in Springfield, Illinois, I don't remember when it was so hot. Nevertheless, the heat didn't keep vendors and visitors alike from enjoying the third annual Country Day's Event. Jane Elliott said the event was originally a one man show. "Barry Seiler, owner of Country Town Farm Supply store used to invite people up to the Johne Deere store. He would give hats and a free meal for everyone that brings a tractor." Elliott said while this
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