This Is Crazy
- Lucian@going2paris.net
- May 5, 2023
- 1 min read
Charlottesville
Cinco de Mayo
I get that some think it's ok to use the debt ceiling as leverage. But they are playing with nuclear bombs. The fact that the market thinks there's anything but a zero percent change of a default is completely unacceptable.
We need to have a rationale discussion of what spending should be, what taxes are needed to support that spending and what is an appropriate range for our national debt. But not at the 11th hour as Congress loves to do.
Vote out all the bastards!!
Let's look at what has actually happened.
The Constitution gives the power of the purse to the House of Representatives. The debt ceiling can be raised at any time. Unlike the budget, which has to be passed on schedule, the debt ceiling can be raised whenever Congress chooses and by any amount. Consider the debt ceiling increase could have been passed by the last Democrat House up to January 2, 2023. Last fall projections showed the debt ceiling would need to be raised in 2023. Speaker Pelosi chose not to attach a debt ceiling increase to the budget bill for 2023 and chose not to pass debt ceiling increase as a stand alone bill before the Democrat House majority …